Yes it has something called Google Now. It's a bit different in that it's not designed to be an "assistant" the way Apple is trying to do with Siri but a lot of the functionality is very similar. To break it down to the bare essentials it's more a Google search type thing except that when it can show you specific answers like weather, sports scores, reminders and a few other things, it shows you a "card" for each item with the details of the answer.
So it knows I follow the Yankees and NY Giants and now it automatically gives me updates in the notification center or if I ask it for the score or schedule it shows me the card with the info on it.
There's one very cool function that I don't even think Siri can do at all but it's only good an a phone as apposed to a tablet with wifi only.
Once it understands where you work and where your home is, and sees your schedule based on where you are at certain times of the day, it shows you traffic and reminders based on where you are.
So for example if your at home and on your normal route to work there's an accident it will warn you to leave at X time if you want to be on time. I don't have this since I don't have an Android phone but a friend of mine does and showed me how it works. It is a very cool feature. He tells me it's very accurate. He had ti pick up his wife at the airport so he put it on his schedule. On the day that she was coming home it gave him a recommendation to leave about 20 minutes earlier than he had planned. He said he got to the airport at the time he expected to if he left at the time he wanted to. You have to admit that's pretty damn cool.
I know Siri can remind you of things you tell it to based on your location, but this is different and I hope Siri gets this ability one day soon.
EDIT: Actually I was incorrect when I said I don't have this. If I was to go to work at some location (I work out of my home office) and connect via wifi on a regular basis the Nexus 7 would also work the same way regarding the location based reminders and traffic.
