The ALICE experiment, which is located at the Large Hadron Collider (LHC) at CERN, has planned an upgrade of the Inner Tracking System (ITS), called ITS3, which will be installed during the LHC Long Shutdown 3, in 2026–2028. The cornerstone of the upgrade is a new 65 nm CMOS pixel chip, produced using Monolithic Active Pixel Sensor (MAPS) technology and the stitching technology to extend the chip length to 26 cm. The produced chips will be bent and they will replace the three innermost layers of the existing detector with new ultra-light, truly cylindrical layers. The ITS3 will improve tracking performance, especially at low transverse momentum, thanks to better track impact-parameter resolution, improved by a factor two with respect to the present ITS in LHC Run 3. In addition, the detector will be closer to the interaction point and will have a much lower material budget, of 0.05% X0/layer. This proceedings paper presents the final configuration and structure of the ITS3, the challenges related to its design and construction, and the results of the current R&D program on the sensor design and characterization. Finally, it also reports the results of beam tests preformed at CERN, where an analog pixel test chip (APTS Source Follower) was investigated in terms of detection efficiency.