Google is one company that keeps investing resources on experimenting/building interesting new products. Project Tango is one such product. Though, the name is hardly original, the company's new announcement is related to the most exciting thing to happen in recent times, Smartphones, and a little extra magic sauce added to it.
Project Tango is a 5-inch Android powered Smartphone that includes a Movidius Myriad 1 vision processor. Combine that with the special 4 MP camera, motion sensor, computer vision processors and a depth sensor, and you get a device that "strives to give mobile devices a human-like understanding of space and motion... enabling new and enhanced types of user experiences." Navigation is one sphere where this can be used, Gaming stands to benefit as well. For now, the device is only a prototype, being developed by Google's Advanced Technology and Projects (ATAP) group.
To catch a better glimpse of what the researchers working at ATAP are trying to do, check out this video:
For more reading, head over to TechCrunch's detailed tech analysis article.