Hardware accelerated ray tracing is a cool new technology able to deliver amazing visuals, as mentioned by the new Xbox head Phil Spencer a while ago, and during a livestreamed talk at build Development Director Ales Holecek was asked if the company has plans for it.
Holecek did say that the company was considering it, but it won't be with DirectX 12.
"Not as a part of DX12, we definitely talk about all kinds of interesting things, which we could be driving into the hardware, obviously ray tracing is one of them, there was just a recent announcement about hardware accellerated ray tracing, but there are other possibilities and other opportunities which we’re looking at about what we can do, we have projects which will benefit from some of these technologies greatly."Source: Dualshockers