AWS IAM Roles Anywhere enables workloads outside of AWS to access AWS resources using X.509 digital certificates. This service allows servers, containers, and applications to obtain temporary AWS credentials for IAM roles and policies, improving security and reducing operational complexity. The video demonstrates how to set up IAM Roles Anywhere, including creating trust anchors and profiles, and shows how to use the credential helper tool to obtain and use temporary credentials. It also explains the benefits of using temporary credentials over long-term credentials for on-premise workloads accessing AWS APIs.