New advancements in cloaking technology are being made at the University of Texas at Austin. The current advancements are slightly different from previous attempts at creating invisibility. Instead of attempting to bend light around the shielded object, the current technology attempts to cancel out light waves before they can return to the viewer’s eyes. This technique is referred to as mantle cloaking. The following explanation is from a statement released by the co-author of the study, Andrea Alu; "When the scattered fields from the cloak and the object interfere, they cancel each other out and the overall effect is transparency and invisibility at all angles of observation". If you would like to read a more in depth write up of the technology, you can do so here.
Personally, I find the idea of invisibility and cloaking technology intriguing and scary at the same time. Obviously, it would be used for military purposes, and the average citizen would never be allowed to own it. Just try to imagine the implications of an invisible Special Forces team, or a completely cloaked squadron of bombers. Sweet Jesus... Additionally, most of the articles around the internet based on this current study are comparing it to the Harry Potter invisibility cloak. Maybe it’s a generational thing, but the first thought that comes to my mind any time new information pops up regarding invisibility technology is the Predator.