The new functionality is meant to help you uncover images where more in-depth information is available - if you see a bag you like a badge will tell you if it's available for purchase. It's introducing badges to indicate what content lies behind certain images. They will classify the image you are viewing and clarify the action you can take.
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"So for example, if you look for "cupcakes" in Image Search, you'll see badges for both video and recipe results". This will happen for GIFs automatically, he said, so no need to worry about those.
Unfortunately, these badges won't be available on Google's desktop image search just yet; for now, the company is only rolling the feature out to the mobile image search, and the Google app for Android. The Structured data testing tool has already been updated to help you check your images' markup. They're not showing up on any of my devices, but it's likely to be a staged rollout relying on a server side switch, so no reason to panic just yet.