"The system takes video from two cameras and mixes them into one, creating the illusion of being able to see through any object. A video processing system compares the feed from one of the cameras—installed in the car—to the other camera—installed on a street. By identifying common points between the two sources, the software can distort the street camera's video feed to match the driver's view. The matching perspective video gets projected onto the windshield, allowing the driver to see through walls in a natural, seamless way."
"The Carnegie Mellon team, lead by Yaser Sheikh, thinks that the system could be easily implemented by tapping into the CCTV camera networks available in most major cities." Gizmodo