Tau

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I guess that the best way to understand it is by examples of possible Tau-powered applications:

• Facebook-like app, but you are the one who decide what features it should have. You'll have kind of personal assistant (artificial intelligence) that can help you to do some actions (Human-Machine-Human communication), for example write responses or analyze your weekly team discussions and generate a report with key findings (little demo - http://www.idni.org/)

Basically

What the Tau is doesn't matter, what matters is that it can change into anything we want it to be
source

I guess that it will help forward science
The goal is to make human communication more efficient

The key invention - Tau Meta-Language (TML)

It's the work in progress.

I'm super far from full understanding of it (better explore the official site, Twitter or latest posts by @rok-sivante)