Microsoft has announced the purchase of a video discovery tech company called VideoSurf. Its ultimate goal is to enhance Xbox Live. It will have the ability to see frames from video and tie that into search results.
There is an iOS app on the app store that has good reviews located here.
Xbox Live is about to release the newest Dashboard update on December 6th featuring voice activated search. Its possible to imagine a future update that allows someone to say.. "kinect, xbox bing search, lol cats that play the piano'" and instantly video search results with this particular topic pop up.
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