EquatIO is available for free from the UIUC Webstore for all U of I faculty, staff, and students.
The video below has no sound and provides a very quick demonstration of how the EquatIO application uses drag and select to instantly convert images of math equations into multiple output formats like MathML (the standard for accessible math), HTML with alt text for the math, and LaTeX. Hitherto, the method for handling images of math has been to manually write out the equation (a time-consuming, hunt-and-peck process) using MathType or other math editors.
In addition to images of math equations, EquatIO will also perform instant handwriting or speech conversion of math equations to MathML, HTML with alt text, and LaTeX.