APPLE INSIDER
Apple is investigating how an “Apple Ring” could interpret the wearer’s gestures, or provide extra functionality to other devices such as the Apple Pencil.

Apple is really keen that your devices know exactly — exactly — where you are. The company is increasingly using Ultra Wideband (UWB) to help iPhones locate each other, and it’s previously looked at how self-mixing interferometry (SMI) sensors can detect people.
Source: APPLE INSIDER