How will Google Hummingbird impact your site’s SEO?

Google has just released a major algorithm update codenamed Hummingbird

The SEO community is typically awash in speculation on if and how this newest change will impact website ranking.
SearchLand have released this overview of Hummingbird’s potential impact

It seems to me that there will be little rank impact from this release, and that one of the outcomes was Google being smarter about processing enquiries with this recent conversational search example giving some insight