Gi-Fi or Gigabit Wireless is a next generation wireless technology that allows data transfer speeds up to 5 gigabits per second within a 10 meter range. It uses 60GHz frequency and has advantages over existing technologies like Bluetooth and Wi-Fi in providing higher speeds, lower power consumption, and operating at higher frequencies. Gi-Fi has applications in wireless transfer of audio/video data for household appliances, office equipment, and inter-vehicle communication. It is expected to become the dominant wireless technology within five years.