Matt Cutts, head of the webspam team at Google, has today released a webmasters video giving information on whether or not EXIF data is used in determining rankings.
To start, lets look at what EXIF actually is. It stands for Exchangeable Image File and is pretty much a stamp of the camera type onto the image. For instance, the information it places on there is the aperture, exposure and f number of the camera used to take the image, camera settings to you and me.
What Matt Cutts says is that Google reserves the right to use the data. And indeed on Google Image Search, EXIF data was sometimes displayed to the right hand side of the images in the search.
See what Matt Cutts has to say in full about this below: