What Pottsey said
Voxel Global Illumination, its achieved by global Ray Tracing, tho there is a performance hit if used globally, about 10ms render time on a GTX 980 or overclocked GTX 970, that equates to about 10FPS in 70, so 70 FPS is reduced to 60. it also depends at what level and distance rendering the developer chose to set it at.
A couple of examples.
These two images demonstrate the lighting and reflections, in the first image VXGI is active, Ray Tracing is bouncing the light around the environment, the result is where in real life you would have light reflecting off objects to illuminate a shaded area, often with the colour of the object:
You can see the shaded wall is illuminated and the red from the paving is also reflected off the wall.
In the second image the wall is dark in the shadow and the light that should be reflected off surrounding objects is not there.
VXGI on

VXGI off
More examples, see the stone on the right, first image the dark side is illuminated from the ground, it has a slight green tint to it.
Second image its plain dark.
VXGI on
VXGI off
A couple more.... see the difference between the first and second images. the lighting quality.
VXGI on
VXGI off
Using Probe Overlay textures, first part of this video i used a texture from a local Environment Probe to overlay on the water, to give it a reflection effect.
this works but its very static and very inaccurate.
In the second part i used Ray Traced reflection, that is accurate and real time.
The third part is a crude pool that i knocked up to show the live streamed reflections on the water, the moving balls are reflected in real time, you may recognise this sort of thing from the OP videos.