Wi-Fi refers to wireless local area network technology that uses the 802.11 standards. It was developed by the IEEE and branded as "Wi-Fi" by the Wi-Fi Alliance trade group to promote interoperability between wireless devices. Wi-Fi allows devices like computers, phones, and other electronics to connect to the internet or communicate with each other wirelessly within a particular range using radio waves. While convenient, Wi-Fi connections pose security risks if not encrypted, though newer standards like WPA2 aim to address this when configured correctly.