We've heard of being able to convert a PDF document to a Google Doc or a Word document, but I had never heard of converting an image to a Google Doc.
I first saw this on a blog post from @thegooglegooru on The Gooru. It is A MA ZING! Be sure to sign up for his newsletter to get tips delivered right to your inbox.
Here's a link to the blog post that shows you exactly how to do it.