In the video "I/O in Rust: the whole story," Vitaly Bragilevsky discusses the current state and future possibilities of input/output (I/O) operations in Rust. He explains various modes of I/O operations, including programmed I/O, interrupts, and direct memory access (DMA), while emphasizing the importance of asynchronous programming to avoid blocking during I/O tasks. The talk also covers the complexities of using asynchronous interfaces in Rust, particularly with the Tokio framework and the emerging io_uring interface in Linux, which allows for more efficient asynchronous I/O operations.