As we all know in today’s era technology is very essential part of our lives. There are various forms of technologies which we are using in our day to day life. For example: Wi-Fi , Biometric Systems, Video Conferencing, Apps for Education, Machinery in industries and Agriculture and many more. One such emerging technology is Li-Fi which is competent of Wi-Fi . Both this technology uses wireless communication. Since each and everything has its pros and cons. Therefore, this paper gives an overview of the advantages, disadvantages and applications of both these technologies i.e., Wi-Fi and Li-Fi.