This lecture discusses the concept of exchange interaction in materials science and physics, focusing on its isotropic nature and implications for ferromagnetism. The instructor explains how exchange interaction allows both amorphous and crystalline samples to exhibit ferromagnetic properties, emphasizing the dependence of this interaction on interatomic distances due to Coulomb forces. The lecture highlights that the magnetization of materials with ordered spins is sensitive to stress that alters these distances. Furthermore, the instructor elaborates on the role of the Pauli exclusion principle and the cooperative phenomenon that leads to significant magnetization from small moments. The discussion also covers the critical temperature of ferromagnets and how exchange interaction can be interpreted as an effective magnetic field that aligns spins. The lecture concludes with insights into the quantum-mechanical origins of magnetic moments and the importance of understanding these principles for applications in various materials, including metals and semiconductors.