Photoshop has added it to my favorite tool area where you'll find the "Spot Healing Brush", "Patch Tool" and others.
This new tool is mostly a time saver allowing me to accomplish a task of moving something in an image with less steps involved. Let's take a look at how it works.
I'd like to move this dog to the left side of the photograph. In the past I would have had to select the dog, copy the selection, paste it onto a new layer and then go back to the original layer to remove the dog that was still on the right side.
Now, I can use the new "Content-Aware Move Tool" and save a lot of time. Here is all you need to do.
Make a selection around the object you want to move with the "Content-Aware Move" tool. Take a look at the option bar where you will see some choices like strict, very strict, loose, and very loose. Strict and very strict won't alter your image as much as loose an very loose. Try the first time using a medium setting. When your selection is complete, drag and drop your selection into the area you want to move your object. If the results you want look good you're done! If not, try adjusting the selection with the other options.
