In 1964 MIT professor Harold Edgerton, pioneer of stop-action photography, famously took a photo of a bullet piercing an apple using exposures as short as a few nanoseconds.
Watch TED Talk by Ramesh Raskar on creating a camera that can capture not just a bullet, traveling at 850 meters per second, but light itself travelling at nearly 300 million meters per second.
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Among the other projects that Raskar is leading, with the MIT Media Lab's Camera Culture research group, are low-cost eye care devices, a next generation CAT-Scan machine and human-computer interaction systems.
"Though photographs in the near future will still be composed by people holding cameras, it will gradually become more accurate to say pictures were computed rather than 'taken' or 'captured." Popular Photography magazine.