This is the 583rd most frequent Russian word.
позволит
"Позволит" means "will allow" or "will enable."
In this sentence, 'позволит' (will allow) is used in future tense to convey the granting of permission or the enabling of an action.
Этот новый закон позволит людям чувствовать себя в большей безопасности.
This new law will allow people to feel safer.
In this sentence, 'позволяет' is used in the present tense to express the capability of enabling an action under current circumstances.
Оборудование позволяет получать более точные результаты.
The equipment allows obtaining more accurate results.
Here, 'позволит' is used to indicate something making another action possible in future tense.