WiGig is a new WiFi standard that was developed by the WiFi Alliance. WiGig, like all WiFi technologies falls into the IEEE standards code of 802.11ad. WiGig is specifically designed to operate in the 60Ghz RF space, significantly higher frequency than standard WiFi that we all use and love which operates at either 2.4Ghz or 5.8Ghz.
WiGig will NOT replace your existing WiFi setup, but will definitely work we in conjunction with it. Because of the extremely high frequency, the RF waves are much more susceptible to distance and physical object limitations. For this reason, the WiGig technology is not a good fit for a home or business WiFi solution.