http://web.mit.edu/newsoffice/2012/faster-fourier-transforms-0118.html
Most of this is greek to me, but a couple of parts stuck out:
"Under some circumstances, the improvement can be dramatic — a tenfold increase in speed. The new algorithm could be particularly useful for image compression, enabling, say, smartphones to wirelessly transmit large video files without draining their batteries or consuming their monthly bandwidth allotments."
"An eight-by-eight block of pixels can be thought of as a 64-sample signal, and thus as the sum of 64 different frequencies. But as the researchers point out in their new paper, empirical studies show that on average, 57 of those frequencies can be discarded with minimal loss of image quality."
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