HTML 5 Development

Has HTML 5 been adopted? Hobbyists are eager to jump into stuff that is not yet standard, but managers are very reluctant to use anything that is not standard. In a manager's mind, the critical thing to do with HTML 5 is to have a group study it and make recommendations and suggestions for how to use it an write guidelines for how it is to be used but they won't allow it in "real" (production) projects until it is finalized as a standard. When that is done, they might make use of HTML 5 a requirement but before it is a standard, it will likely be not allowed.

Of course, if my understanding of management is inaccurate, then I hope someone educates us.