The experimental addition was added to Google Calendar today and can be enabled via the Labs section. Upon installation, the feature will appear alongside users' calendars and allow them to select individual events to reschedule.
Here's how it works: Clicking "Find a new time" prompts the gadget to check the calendars of scheduled attendees, allowing it to recommend the best dates and times to reschedule based on Google's search ranking algorithms. Users can select from any of the returned results or fine-tune the suggested options by adjusting event parameters around date and time, or by marking attendees as optional.
The Smart Rescheduler is a simple utility that should make the busy day-to-day lives of Google Calendar users more organized and less chaotic.