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Well it's too open a question. One ridiculing answer might be "it can't fly you to the moon". You need to ask a more targeted question giving a scenario and a problem and asking if Ajax is a good solution.
At the end of the day Ajax is out-of-band HTTP requests and responses, i.e. requests made outside of the context of the normal browser's action of the user typing in a URL or following a link and the browser rendering the response.