AP on your transcript demonstrates to colleges that you are able to tackle college level work.
Some colleges will give course credit. This is dependent on the college or university and the score received on the exam.
You will need to research your individual colleges or speak to an admissions person at the college you would like to attend.
If your college does accept your AP Exam scores, it may allow you to skip some of the introductory courses in college.
If your college accepts your AP Exam scores, it can open up time in your college schedule to take additional courses or even let you graduate early.