The Intel 80286 is a high-performance 16-bit microprocessor designed for multiuser and multitasking systems, featuring an integrated memory management unit that supports virtual memory and memory protection. It operates in two modes: real address mode, addressing up to 1MB of physical memory, and protected virtual memory mode, managing up to 1GB of virtual memory. The 80286 has a similar register set to the 8086 and includes various interrupt processing capabilities, highlighting its advanced functionality for its time.