Gi-Fi is a new wireless technology that operates at 60GHz for data transfer rates up to 5Gbps. It was developed to address the slow speeds, high power consumption, and limited range of previous technologies like Bluetooth and Wi-Fi. Gi-Fi uses a small 5mm chip and works within a 10m range, offering high speeds, low power usage, and high security for applications in homes, offices, and vehicle communication. It is expected to become the dominant wireless technology within 5 years as costs decrease and it provides fast data sharing between devices.