IP addresses are essential for enabling communication between devices on the internet. They are like phone numbers assigned to devices, allowing them to send messages and connect to the internet. Understanding IP addressing and subnetting is crucial for various IT fields like networking, security, and cloud computing. The video introduces the concept of IP addresses and teases a series on subnetting skills. The speaker emphasizes the importance of acquiring these skills for IT professions. Additionally, the video mentions sponsorship by a software company offering resources for IT certifications like CCNA and CCNP. The speaker recommends using their materials for exam preparation and extra practice. Overall, the video sets the foundation for understanding the role of IP addresses in facilitating device communication and internet connectivity.