ARKit allows developers to create augmented reality experiences for iOS devices. It uses advanced computer vision techniques to detect and understand the environment. Some key features of ARKit include motion tracking, plane detection, lighting estimation, and support for multiplayer shared AR experiences. ARKit works with technologies like SceneKit, Unity, and Core ML to enable placing virtual objects and detecting faces/objects. ARKit 2.0 added support for vertical plane detection, object scanning and recognition. Overall, ARKit makes it easy for developers to build AR apps that integrate virtual content with the real world.