What is coreduetd?

Since Yosemite and in every later operating system OS X/macOS runs **coreduetd** from /usr/libexec/coreduetd with the bundle-id com.apple.coreduetd.osx in the background. - What exactly is this process doing? - On which hardware does this run (i.e.: is its functionality supported)? - Can it be disabled? - How can it be disabled? - Should it be disabled? - What are the (potential) side effects of it being disabled (dependencies)? This question should not be read as a YX-Problem but an attempt to eventually add to the list of canonical questions.