An ac drive is a device that is used to control the speed of an electrical motor. The speed is controlled by changing the frequency of the electrical supply to the motor.
The three-phase voltage in the national electrical grid connected to a motor creates a rotating magnetic field in it. The rotor of the electrical motor will follow this rotating magnetic field.
An ac drive converts the frequency of the network to anything between 0 to 300Hz or even higher, and thus controls the speed of motor proportionally to the frequency.