If you asked iPhone 7 users whats their biggest problem? Most of them will probably say losing their AirPods more often than not and then having to search the whole room to find them.
Apple's wireless earbuds called AirPods only have a little W1 chips inside them. Which means there's no WiFi, no GPS, only bluetooth. So if you lose an AirPod, you can't really locate it on a map, like you do with a lost iPhone using the Find my iPhone app. So how do you locate it?
Well, the new Find My AirPods feature lets play and alarm sound in your AirPod using bluetooth. While the alarm is not as loud as on the iPhone, its still loud enough to give you an idea where your AirPod is hiding.
Don't get too excited though. Since there is no Wifi, this feature only works when your iPhone is connected to your AirPod via bluetooth. Say, 10-15 meters range.
Apart from that, iOS 10.3 will add cricket scores in Siri (What took you so long, Apple?). Some CarPlay refinements and improvements here and there.
iOS 10.3 will stay in beta for a couple of months and final version will be released to download once the beta is over.