Embeddable like Twitter's Tweet button or Facebook's Like button, the new Apply With LinkedIn button has its crosshairs set on becoming "the future of job applications."
Basically, a hiring company embeds the button on a job description on their site or wherever. To apply, just click the button, and boom—your LinkedIn resume to submitted to them automatically.
On the business side, the uniformity of the LinkedIn resume format—plus its searchability—should make screening candidates much easier than shuffling through piles of paper.
And on the user side, tracking your job-hunting efforts just got a lot easier thanks to its new Saved Jobs feature.
I certainly know I used to link my LinkedIn page on my resumes, so this is definitely an evolution. The future of job applications? Maybe, but it's still all about who you know, not what you know. (So make sure potential employers see all your cool "connections!")