Interspecific competition is significant in ecology because it influences species diversity and community structure. When two different species compete for the same resources, such as food and habitat, it can result in resource partitioning or one species outcompeting the other. This competition affects population dynamics and can lead to adaptive evolution, shaping the traits and behaviors of species over time. Understanding interspecific competition is crucial for conservation efforts, management of natural resources, and predicting changes in ecosystems due to environmental shifts.