An interesting technology from the Australian Centre for Visual Technology called VideoTrace. You can download the paper describing the technology here
The simple models it generate are perfect for Google Earth 3D models, low poly video games and Michael Gondry film clips.
With the huge coverage multi touch screens, photosyth and other international based technology has been getting lately it's nice to see some Aussies doing something interesting too.
The next Siggraph is in LA during August with the first Asia Siggraph being held in Singapore in December 08.