The significance of the Open Systems Interconnection (OSI) model lies in its framework for standardizing communication functions in computer networks. It divides the network architecture into seven layers, facilitating interoperability among diverse systems and protocols by providing a common reference point. This model aids in troubleshooting and enhancing network performance, as each layer addresses specific functions like data transmission, session management, and application interactions. Understanding the OSI model helps network professionals design, implement, and manage networks more effectively, ensuring efficient data flow and communication.