Gi-Fi is a wireless technology that operates at 60 GHz and allows data transfer speeds of up to 5 gigabits per second within a 10 meter range. It has several advantages over existing wireless technologies like Bluetooth and Wi-Fi, including significantly higher speeds of 5 gigabits per second compared to Bluetooth's 800kbps and Wi-Fi's maximum of 11Mbps. Gi-Fi also uses less power and has a smaller chip size. Potential applications of Gi-Fi include wireless transfer of audio and video data for household appliances, offices, and between vehicles. Researchers expect Gi-Fi to become the dominant wireless technology for networking within five years.