According to Motorola, the update comes with May, 2017 Android security patches. Motorola also adds Video calling Duo application, Stability improvements other interesting features along with Android 7.1.1 Nougat goodies.
Motorola’s instructions explain that for a successful installation, the battery in your phone should be at least 50% charged and your device should be connected to a Wi-Fi network or LTE.
If you haven't got the notification of this new software update yet, Just go to Settings - About Phone - Software updates, and It will automatically start downloading the latest update. The update will take around 10-15 minutes to get Installed on your device.
Release Notes | Got the latest update? Let us know in the below comment section.