Dynamically extracting text information from images could have a new wave of applications even in everyday life of a consumer.  Mashable notes, 

Google has filed a patent (full text available here) for “recognizing text in images,” which could give Google Street View a whole new meaning and purpose. According to Information Week, the technology would involve capturing text from things like street signs, building names, and address numbers; data that could be used for everything for more precise driving directions to advanced image search.

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