System, apparatus, method, and computer readable media for on-the-fly captured video summarization. A video stream is incrementally summarized in concurrence with generation of the stream by a camera module. Saliency of the video stream summary is maintained as the stream evolves by updating the summary to include only the most significant frames. In one exemplary embodiment, saliency is determined by optimizing an objective function including terms that are indicative of both the diversity of a selection, and how representative the selection is to the processed portion of the video data corpus. A device platform including a CM and comporting with the exemplary architecture may provide video camera functionality at ultra-low power, and/or with ultra-low storage resources, and/or with ultra-low communication channel bandwidth.