By FairFight they mean stats based bans along with some measures against things commonly exploited in BF3, ie. Client sending damage at the wrong time or invalid enemy is logged and sent to DICE's anti-cheat team.

What will most likely happen is bans will be high in the beginning, followed by only bans via reports, then less and less as support for the game drops. BF4 can be a leap in anti-cheat measures if coders don't step up to their new tech, much like DRM and anti-DRM communities. While DICE may step up their third party implementations their netcode in general has very little protection - some exploits rendering their third party protections essentially useless as we have seen in the past.

FairFight has provided WarZ with a lot of false bans, it's worse then PunkBuster in that regard.