“One of the major features of UE4 should have been real-time global illumination using voxel cone tracing, eliminating pre-computed lighting. However, this feature has been removed prior to release for all platforms including the PC because of performance concerns on next-gen consoles.”
When the time comes (maybe next GPU generation; GTX 800), will Epic re-introduce voxel cone tracing and global illumination? The source code is just sitting there, waiting to complie into my grubby game developing hands. That elemental demo was one of the contributing factors to me purchasing the engine and choosing it as the go-to.
note: A similar question has already been asked but no answer was provided
There is already a solution for directional lights, but it is still in the works so you’ll have to enable it manually. You can watch Nick and Martin’s Twitch stream if you want to find out more.
I guess there already dynamic GI, it might be not final version, and not voxel cone tracing, but should do the job. http://www.lionhead.com/blog/2014/april/17/dynamic-global-illumination-in-fable-legends/
Personally ideally I see it as combination of prebaked and dynamic lighting. My experience with totally dynamic lighting made me pretty convinced, you need to have ability bake lighting and shadows.