Stereo vision uses two cameras to capture 3D information by processing two images of the same scene taken from slightly different angles. The seminar discussed concepts of stereo vision and its potential use for a virtual touch screen. Requirements for such a system include using two cameras for stereo vision capabilities, mouse input replacement with touch, and GUI modification for touch events. Challenges like correspondence and calibration problems were also covered, along with solutions like correlation-based algorithms. Applications of stereo vision include robotics, surveillance and 3D mapping.