Microsoft Photosynth takes the idea of photo stitching several steps further, by reconstructing the photographs in quasi-3D.
Quasi because it doesn't build up a 3d model, but it lets you look around and does all the stitching in realtime. The best thing is that it has markers where all the photos were taken. It uses uploaded photos from various people and stitches them together to create a live photo panorama of the location e.g. different photos from different people of Qutab Minar can be stitched together to create a virtual tour. Next when someone uploads the Qutab Minar pic, it automatically calculates and assimilates the photo.
This is the first release apparently from Microsoft Live Labs’.
The actual application may be released in the near future around Oct 2006. This project is a result of cross group collaboration with the University of Washington, Microsoft Research, recent acquisition Seadragon Software, PIX, and Windows Live Local.