Blue Eyes technology aims to create machines that have human-like perceptual and sensory abilities. It uses cameras and microphones to identify user actions and emotions. The technology is being developed by researchers at Poznan University of Technology and Microsoft to build machines that can understand emotions, listen, talk, verify identity, and interact naturally with humans. Some applications include using eye tracking to improve pointing and selection, speech recognition to control devices with voice commands, and monitoring user focus and interests to provide relevant information on screens.