By selecting Lens, you can perform a search, do optical character recognition (OCR) or find visually similar items. The current annotating, cropping and sharing editing tools will likely remain as they are. It's not yet clear whether the new Lens function will work for all screenshots or just those taken in Google Search. However, it seems likely that it will eventually become a replacement for screen search, in much the same way that Lens has taken over from other Google Assistant functions.