FSR 3 is frame generation, similar to DLSS 3. It can greatly increase FPS to 2-3x.
FSR 3 can run on any GPU, including consoles. They made a point about how it would be dumb to limit it to only the newest generation of cards.
Every DX11 & DX12 game can take advantage of this tech via HYPR-RX, which is AMD's software for boosting frames and decreasing latency.
Games will start using it by early fall, public launch will be by Q1 2024

It's left to be seen how good or noticeable FSR3 will be, but if it actually runs well I think we can expect tons of games (especially on console) to make use of it.

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[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

EuroGamer confirmed there is a difference

The principles are similar to DLSS 3, but the execution is obviously different as unlike the Nvidia solution, there are no AI or bespoke hardware components in the mix. A combination of motion vector input from FSR 2 and optical flow analysis is used.

AMD wanted us to show us something new and very interesting. Prefaced with the caveat that there will be obvious image quality issues in some scenarios, we saw an early demo of AMD Fluid Motion Frames (AFMF), which is a driver-level frame generation option for all DirectX 11 and DirectX 12 titles. [...] This is using optical flow only. No motion vector input from FSR 2 means that the best AFMF can do is interpolate a new frame between two standard rendered frames similar to the way a TV does it - albeit with far less latency. The generated frames will be 'coarser' without the motion vector data