The Intel Chipset Device Software installs the Windows INF files. An INF is a text file that provides the operating system with information about a piece of hardware on the system. In the case of the current Intel Chipset Device Software, that information is primarily the product name for the piece of hardware. This allows the operating system to show the correct name for that piece of hardware in Device Manager.
Note: The Intel Chipset Device Software does not install drivers for AGP or USB. Do not download this utility if your device manufacturer is recommending it to correct an "AGP driver," "AGP GART," or "USB driver" issue; it will not correct your issue.