Minority Report comes to mind when taking a look at what I am certain will be the next big wave in mobile applications.  Simply put, Augmented Reality utilizes a local camera as an input device, combined with either location based services or visual bar code in order to overlay artificial objects or navigation right over the visual.

All sorts of applications are popping up and the most obvious are those that are related to mapping or friend-finders or sorts.

Imagine holding up your phone camera and as you turn around all of your friends pop up based upon their location and distance from your current location?

Or imagine signage and review information magically appearing over retail and restaurant locations as you tour an unfamiliar city?

Watch these videos for a much better view of what is in store for us.

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