Yes. AIR³ is using a performing barometer sensor from Te connectivity to determine the altitude and the altitude changes. It can detect an altitude change of less than 10 cm per second.
Watch and listen to these 2 short videos that compare AIR³ 7.2 vario with Oudie and Flymaster varios. You can hear that AIR³ detects the lift nearly instantly, half a second earlier than the Flymaster and Oudie.
In the video with Flymaster, AIR³ vario is set on Classic mode with straight tone while Flymaster is set with Dynamic frequency.
In the video with Oudie, the video starts with devices individually, so you can recognize the sound.