F# is a new development language that is available on Visual Studio 2010; It can be downloaded separately from Microsoft research F# for Visual Studio 2008. It is a new language that has paradigm of functional programming. It is differs from C# or VB that has paradigm of imperative by design.
Functional means preventing state and mutable data, and treats as mathematic functional. This is in contrast of imperative that can change state using statement.
In a software development project, F# is use on financial or math. Some banking applications for example needs financial project like counting interest, pmt, value manipulation or else. C#/VB is useful on UI interaction, data/io interaction.
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