This lecture covers the concept of the boundary layer, where the velocity is reduced due to friction and no-slip condition. It discusses the limitations of inviscid flow theory, the impact of viscous friction, and the importance of the boundary layer in predicting drag forces. The presentation includes dimensional analysis, streamwise independent solutions, and practical examples like flow along a flat plate and a 2D channel flow. The instructor explains the significance of the boundary layer in fluid dynamics and its implications in real-life scenarios.