The University of Michigan's Project HiJack harnesses power by using bandwidth from the iPhone's headphone port. There are actually some peripherals that do this already -- think Square's credit card reader -- but Project HiJack sees this expanding to produce sensors for blood pressure, glucose, carbon monoxide and more. Right now, their work is very basic, but they are producing data transfer results through the headphone jack.
Check out Project HiJack's work in action after the cut.
[via Engadget]