Kaby Lake is the code name for Intel’s 7th generation CPU’s.
It was announced on the 30th of August 2016 and, like Skylake and Broadwell (the previous generations), it is still based on the 14 nm process. Its architecture is also the same as Skylake’s, which means that the improvements over it are not big at all.
Intel claims that Kaby Lake’s biggest features are the 4K video playback improvements, better efficiency and the slightly faster clock speeds over Skylake.
So, all in all, I believe that Kaby Lake is just a small step compared to what is coming, since it is known that Intel is developing a new groundbreaking generation of CPU’s, code named CannonLake, which is built on a 10 nm process and is expected to be launched in the second half of 2017.
Sources:
https://en.wikipedia.org/wiki/Kaby_Lake
https://www.cnet.com/news/intel-kaby-lake-7th-gen-core-processors-faq-update/
http://www.pcworld.com/article/3111186/hardware/10-key-things-to-know-about-intels-kaby-lake-cpus.html