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78 votesThe ability to convert outline text into live text will be available through the 'Retype' feature we recently shipped. The released version can identify fonts for now. Soon it will allow you to edit it as well. More details: https://helpx.adobe.com/in/illustrator/using/retype.html An error occurred while saving the comment  Anonymous
    
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           · Anonymous
    
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It seems plausible to incorporate Acrobat's OCR ability and combine it with a typeface recognition process similar to Whatthefont.com functionality to select the closest typeface and/or suggest what the font is so you can activate it.
Further, it seems that this could work with images as much as outlined type!