Apache AVRO is a data serialization system that includes a schema language, compact serialized format, RPC framework, and APIs in multiple languages. Its goals are to support cross-language data exchange and simple but expressive schema evolution. It provides a way to define data schemas and protocols and serialize data in a compact binary format. The serialization allows for dynamic schema evolution while preserving compatibility. AVRO integrates with Hadoop and provides tools for working with AVRO data and schemas. Version 1.3 is planned for release soon with evolving but stable APIs and formats.