Basically, My KNOX creates separate workspaces on your phone. On one side, you can have all of your personal data and photos, which will be inaccessible by your business IT support; and, on the other side, you'll have your work email, business apps, and other corporate data. Right now, My KNOX comes with email, calendar, contacts, and other apps that support Microsoft Exchange ActiveSync. There is also a My KNOX User Portal, which will allow you to remotely manage your device, or wipe it if need be.
As of now, the My KNOX app requires a Microsoft account, and only works on the Samsung Galaxy S5 and Note 4. Presumably, support will be expanded to other Samsung devices, but no timetable has been given on that.
Download: My KNOX
source: Android Central