Infrared spectroscopy is a technique used to identify functional groups in molecules by detecting the vibrational and rotational frequencies of chemical bonds. It works based on the absorption of infrared radiation by the molecule, which causes changes in the dipole moment of the bonds. There are two main types of vibrations detected - stretching and bending. Factors like coupled vibrations, hydrogen bonding and electronic effects influence the vibrational frequencies observed. IR spectroscopy has applications in structure elucidation, quantitative analysis, reaction monitoring and more.