The first two features are similar in that they highlight photos related to specific people. A ‘Rediscover your memories’ feature will dig up old pictures of people who have appeared in more recent images. A ‘Recent highlights’ option will bring up a ‘card’ showing the best photos of a subject you’ve taken pictures of recently, such as a baby.
Perhaps a more useful feature is the ability to rotate images to the correct orientation, as illustrated above.
Finally, the Photos app can analyze videos you’ve taken to find ‘action’ and then turn it into an animated GIF.