Google Goggles is a downloadable image recognition application created by Google Inc. It is currently found in the Google Labs as a beta version. Currently, it is used for searches based on pictures taken by handheld devices. For example taking a picture of a famous landmark would search for information about it, or taking a picture of a product's barcode will search for information on the product.
The program proposed will be capable of identifying virtually anything. Currently the system is able to identify various labels or landmarks, allowing the user to learn about such items without needing a text-based search. The system can identify barcodes that allow users to search for similar products and prices, as well as save codes for future reference, similar to the failed CueCat of the late '90s, but with more functionality. The system will also recognize printed text and using Optical character recognition (OCR) produce a text snippet, and in some cases even translate the snippet into another language.
For more details check it here
http://www.google.com/mobile/goggles/#text
Source : Wikipedia
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