This lecture discusses the functions of the various layers in the OSI model including the network layer, transport layer, session layer, presentation layer, and application layer. It provides details on the responsibilities and services provided by each layer, such as logical addressing and routing at the network layer, segmentation and reassembly at the transport layer, dialog control and synchronization at the session layer, translation and encryption at the presentation layer, and various services like mail and file transfer at the application layer. It also compares the TCP/IP protocol suite to the OSI model.