Modiface grew out of face recognition technology developed at the University of Toronto. The technology is similar to what you'd find on newer point-and-shoot cameras and camcorders, which uses facial recognition to adjust focus. The company brings the same idea to the world of cosmetics, licensing its advanced image processing to developers for use in beauty applications. It's also the first company to offer such extensive anti-aging and weight loss visualizations online, for free.

Other sites powered by Modiface let you adjust you hair color instantly, see how you will age, digitally test out cosmetics, and more. The new Nintendo DSi is just one of the many products to expect to see with these types of intelligent applications.  I'm sure an iPhone application is in the very near future.