The Sixth Sense technology was developed by Pranav Mistry as a wearable gestural interface using natural hand gestures to interact with digital information overlaid on the physical world. It consists of a camera, projector, mirror, and smart phone. The camera tracks hand gestures with color markers and sends the data to the phone for processing. The projector then projects the output onto the mirror and surfaces, allowing interactions like checking the time, maps, photos and more. Some advantages are portability, cost-effectiveness and connecting the digital and physical worlds, while disadvantages include potential technology addiction and health issues.