Yahoo (YHOO) rolled out some major upgrades to its search engine today. Dubbed “Search Assist,” the addition to the interface integrates audio, video, and photos directly into search results. The updated search also features “suggestions” that actively guess what you’re about to search for when you type in a few letters of your query.

Yahoo’s search traffic is on the decline as competitor Google (GOOG) gains momentum. Yahoo captured 19.9 percent of total search market share in August, down from 24 percent in August 2006, according to Neilsen/NetRatings. Meanwhile, Google claimed 53.6 percent of search market share in August, up from 50.2 percent in the same month the prior year.

[Courtesy: gigaOM]