Coming Next Big Thing? Better Compression

Researchers at MIT have developed a way to speed up digital data compression.  The MIT group has developed a new algorithm that relies on two ideas - first, dividing the bandwidth into narrower pieces, which can then take advantage of a more efficient signal-processing strategy.
  This can provide a better, more efficient compression system for large digital files (such as digital video).  When adopted, this can enhance the delivery of digital video through various media, expanding the available market and encouraging demand.

Source - The faster-than-fast Fourier transform,  MIT News