A techie way of saying Input/Output.
All you really need to know is that it communicates between an information processing system, such as a computer, and the real world, possibly a human.
This is not to be confused with .IO, which is a tld people use to name their sites with because they are too lazy to negotiate for the .com.
A computer that uses memory-mapped I/O accesses hardware by reading and writing to specific memory locations. This basically means your computer will help you initiate commands with your Macbook's hardware.