This ultra-fast, short-range wireless technology is good for very specific uses.

According to a recent rumor reported by Mac Otakara, the iPhone 12 set for release this fall will include 802.11ay wireless technology. It’s a super-fast, short-range wireless tech that has fairly limited uses, but it could be an exciting addition to Apple’s mobile lineup. Like Ultra Wideband in the iPhone 11, it’s a tech that may not be fully exploited at first, but could bring new capabilities down the road.
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https://www.macworld.com/article/3529349/what-is-80211ay-and-what-could-it-mean-for-the-iphone.html