You already know what's going on in my mind, but what if you could see exactly what I'm thinking about? Might not be long before you can, because there have been some minor successes in thought decoding technology.
I say "thought decoding" instead of "mind reading", because what researchers are working on is a way to decode and analyse brain activity in order to predict the thought, or more precisely, the image in a person's mind. So far they've had limited success using small sample sizes of YouTube videos and thorough scans to study brain activity in order to assume which videos would produce what sort of activity.
The research is freaky with a heaping serving of awesome, and I can't wait until mindcasts are the newest trend. [New Scientist]