If the input is low for a long time for the RC circui to settle, then inverter output is high. So when the actual input goes high, the AND gate goes high, but soon the RC circuit settles and inverter output goes low and so does AND output.
On the other hand, if input is high for a long time, inverter output will be low after RC circuit settles, so AND output is also low. If there are short low states on the real input, nothing happens.
So it is just selective to edges, states and pulse timing.
What the advantage of such a circuit is depends on what kind of signal source you intend to give it as an input, and since that is unknown, nothing can be said about the advantage or even suitability of this circuit for that purpose.