BIOS is an abbreviation of 'Basic Input / Output System' and is the firmware stored in the ROM on the motherboard of the PC. When you boot your PC, the BIOS program written to the ROM boots, ...
Update it now and again when there's a fix for LogoFAIL... everyone with an ASUS/MSI/Gigabyte/ASRock/Biostar/etc. board is going to need to. (Plus HP, Lenovo, etc ...