LC3
Low Complexity Communication Codec — the mandatory codec in Bluetooth LE Audio, and the first proper replacement for SBC.
Fraunhofer IIS and Ericsson developed LC3, and the Bluetooth SIG adopted it when LE Audio was announced in 2020. It is MDCT-based, designed to run on small batteries, and according to the SIG's listening tests sounds better than SBC at roughly half the bitrate.
What it enables matters more than how it sounds. LE Audio runs over Bluetooth Low Energy, which makes it relevant for hearing aids, and Auracast lets one transmitter stream to any number of receivers — think conference interpretation or the TV at the gym. Classic Bluetooth audio was designed for a pair; LC3 was designed for a room.