From ISOL Technology

'Next generation MRI system 1.5T CHORUS developed by ISOL Technology is optimized for both clinical diagnostic imaging and for research development.
CHORUS offers the complete range of feature oriented advanced imaging techniques- for both clinical routine and research. The compact short bore magnet, the patient friendly design and the gradient technology make the innovation to new degree of perfection in magnetic resonance.'

From ISOL Technology

'MRI system is not an expensive equipment anymore. ENCORE developed by ISOL Technology is a low cost MRI system with the advantages like of the 1.0T MRI scanner. Developed specially for the overseas market, the ENCORE is gaining popularity in the domestic market by medium sized hospitals.
Due to the optimum RF and Gradient application technology. ENCORE enables to obtain high resolution imaging and 2D/3D Angio images which was only possible in high field MR systems.'
- Less consumption of the helium gas due to the ultra-lightweight magnet specially designed and manufactured for ISOL. - Cost efficiency MR system due to air cooling type (equivalent to permanent magnetic). - Patient processing speed of less than 20 minutes.'

Lung imaging is furthermore a challenge in MRI because of the predominance of air within the lungs and associated susceptibility issues as well as low signal to noise of the inflated lung parenchyma. Cardiac and respiratory triggered or breath hold sequences allow diagnostic imaging, however a comparable image quality with computed tomography is still difficult to achieve.
Assumptions for lung MRI:
The current trends in MRI are the use of new imaging technologies and increasingly powerful magnetic fields. Among these technologies are parallel imaging techniques as well as ventilation agents like hyperpolarized helium for the use as an inert inhalational contrast agent to study lung ventilation properties. With hyperpolarized gases clear images of the lungs can be obtained without using a large magnetic field (see also back projection imaging). Single shot sequences (e.g. TSE or Half Fourier Acquisition Single Shot Turbo Spin Echo HASTE) used in lung MR imaging benefits from parallel imaging techniques due to reduced relaxation time effects during the echo train and therefore reduced image blurring as well as reduced motion artifacts.
In the future, more effective contrast agents may provide an alternative solution to the need for high field MRI. Dynamic contrast enhanced MRI perfusion has demonstrated a potential in the diagnosis of pulmonary embolism or to characterize lung cancer and mediastinal tumors. 3D contrast enhanced magnetic resonance angiography of the thoracic vessel.

See also the related poll result: 'MRI will have replaced 50% of x-ray exams by'

Quick Overview
Please note that there are different common names for this artifact.

During frequency encoding, fat protons precess slower than water protons in the same slice because of their magnetic shielding. Through the difference in resonance frequency between water and fat, protons at the same location are misregistrated (dislocated) by the Fourier transformation, when converting MRI signals from frequency to spatial domain. This chemical shift misregistration cause accentuation of any fat-water interfaces along the frequency axis and may be mistaken for pathology. Where fat and water are in the same location, this artifact can be seen as a bright or dark band at the edge of the anatomy.
Protons in fat and water molecules are separated by a chemical shift of about 3.5 ppm. The actual shift in Hertz (Hz) depends on the magnetic field strength of the magnet being used. Higher field strength increases the misregistration, while in contrast a higher gradient strength has a positive effect. For a 0.3 T system operating at 12.8 MHz the shift will be 44.8 Hz compared with a 223.6 Hz shift for a 1.5 T system operating at 63.9 MHz.

For artifact reduction helps a smaller water fat shift (higher bandwidth), a higher matrix, an in phase TE or a spin echo technique. Since the misregistration offset is present in the read out axis the patient may be rescanned with this axis parallel to the fat-water interface. Steeper gradient may be employed to reduce the chemical shift offset in mm. Another strategy is to employ specialized pulse sequences such as fat saturation or inversion recovery imaging. Fat suppression techniques eliminate chemical shift artifacts caused by the lack of fat signal.

See also Black Boundary Artifact and Magnetic Resonance Spectroscopy.

(BOLD) In MRI the changes in blood oxygenation level are visible. Oxyhaemoglobin (the principal haemoglobin in arterial blood) has no substantial magnetic properties, but deoxyhaemoglobin (present in the draining veins after the oxygen has been unloaded in the tissues) is strongly paramagnetic. It can thus serve as an intrinsic paramagnetic contrast agent in appropriately performed brain MRI. The concentration and relaxation properties of deoxyhaemoglobin make it a susceptibility , e.g. T2 relaxation effective contrast agent with little effect on T1 relaxation.
During activation of the brain, the oxygen consumption of the local tissue increase by approximately 5% with that the oxygen tension will decrease. As a consequence, after a short period of time vasodilatation occurs, resulting in a local increase of blood volume and flow by 20 - 40%. The incommensurate change in local blood flow and oxygen extraction increases the local oxygen level.
By using T2 weighted gradient echo EPI sequences, which are highly susceptibility sensitive and fast enough to capture the three-dimensional nature of activated brain areas will show an increase in signal intensity as oxyhaemoglobin is diamagnetic and deoxyhaemoglobin is paramagnetic. Other MR pulse sequences, such as spoiled gradient echo pulse sequences are also used.
As the effects are subtle and of the order of 2% in 1.5 T MR imaging, sophisticated methodology, paradigms and data analysis techniques have to be used to consistently demonstrate the effect.
As the BOLD effect is due to the deoxygenated blood in the draining veins, the spatial localization of the region where there is increased blood flow resulting in decreased oxygen extraction is not as precisely defined as the morphological features in MRI. Rather there is a physiological blurring, and is estimated that the linear dimensions of the physiological spatial resolution of the BOLD phenomenon are around 3 mm at best.