Alright I've played around with the new lighting and rendering engine "Lumen" for a bit now. It's... really freaking impressive stuff. Here's some examples. Mind you, NOTHING in this is hardware raytraced. All software. Theoretically runs on anything, even if it doesn't support RTX.
It seems like they're using Signed Distance Field for pretty much everything. So what you get is basically: Real area shadows (depending on your light source shape), realtimge GI, realtime reflections and one of the most impressive things: realtime emissive meshlighting! Depending on the mesh size it's very noisy but again, this is realtime and it's early access. Let's see what comes in the future.
One warning though if you want to try it out: it is VERY VERY crash happy, at least on my machine. I've played with it for about 2h now and I had at least one crash every 10-15minutes, oftentimes, depending on what I was doing, much more frequent. Still, very cool tech!
Realtime Area Shadows
SVyuV9UQJd.mp4
Realtime... Lighting?
8Clw4IW0Y0.mp4
More Realtime Lighting! No traditional lighs in the scene!
92btR6k4z9.mp4
Realtime Emissive Materials / Meshlights. No traditional lighs in the scene!
IRBYvQwKDp.mp4