This may look like an input device for your computer. It’s not. It IS an computer. That looks (and works) like a pen.
The smartpen uses its built-in infrared camera to track whatever you are writing and even to indentify pre-programmed symbols. So if you use a special paper bloc with pre-printed symbols and you „click“ (tip) on one of these, the pen will launch the stated function (like Start, Stop or whatever („Whatever“ would be a kewl function, still waiting for that one :) )).
„Never miss a word“ is the idea behind the pen: The pen will record whatever you are saying while you are writing (or doodling, or whatever) and playback what you said while writing down this or that word – just tip the pen to the word, and go. See more on this pen at Livescribe.