A screenshot from an unspecified build of Windows 8.1 has revealed some minor changes, including a renaming of 'Computer' to 'This PC', and a removal of the Libraries feature in favor of folders From Neowin:

According to a new screenshot of an unspecified development build of Windows 8.1, Microsoft has made a minor change and renamed 'Computer' to 'This PC', while also removing the Libraries feature in favor of top level folders that sit inside 'This PC'. These folders appear to be the same as My Documents, My Music, My Videos, (etc.) just with the 'My' prefix removed and a repositioning into an easier to access location.

Why the development team has made these adjustments remains a mystery, although it could be to consolidate the range of personal folders available from within Windows. Currently Windows 8 has both Libraries and the default folders available from within the User folder; Windows 8.1 could merge these together to make it easier to share files between devices. Renaming 'Computer' to 'My PC' would also facilitate easier networking between secondary devices, such as tablets.

 'Computer' renamed to 'This PC' in latest Windows 8.1 build