Today, we are really excited to introduce a new mode of navigation [to StreetView] which liberates you from the road arrows and gets you where you want to go in just a few clicks. You can now use Street View’s smart navigation to travel to a new place just by double clicking on the place or object you would like to see. We have been able to accomplish this by making a compact representation of the building facade and road geometry for all the Street View panoramas using laser point clouds and differences between consecutive pictures.
See Also: Smart Navigation Video Intro
Source: Google Lat-Long Blog
