Today we have enabled 2021 Release Wave 2 on our instance and were checking new features. To check the things, I tried to create a contact and have observed an option as Advanced Lookup.
Clicking on the button, opens the Advanced Lookup Grid. I am super excited after seeing it as I assume we went back to my old days where Lookup was easy to search and view.
We can search, change Views, filter to show only records owned by logged in users etc..
We can also edit the records without navigating anywhere and not losing existing context, the system opens the record as a popup to edit.
We can add the new row from the window and the system will open the Quick View form to create the record easily.
Hope this helps.