Dolby's Volume technology (capital V) is designed to be added to TVs, DVDs, and other equipment in order to normalize volumes when watching TV. Instead of being bombarded by loud ads—purposely introduced by ad makers to have volume only on the LOUD end of the range—Dolby Volume makes sure all sound gets outputted at an acceptable volume.
During their demo at CES, listeners didn't hear any artifacts or delay when Volume was active. The only problem is cost, which Dolby says will be negligible when included in the price of most TVs or home sound systems. We look forward to the day when a commercial with a grandma in it isn't automatically louder than Jack Bauer's shouting.