IAM Cloud - Identity Exchange accesses Microsoft APIs in order to allow the identity process to work.
In line with Microsoft's latest recommendations, IDx requires 'permission' to access these APIs. This gives customers (like you) visibility over what their connected applications ( IAM Cloud - Identity Exchange ) can access.
In order to install the AAD IAM Cloud - Identity Exchange app you must be a tenancy Global Administrator.
Global administrators can install the app via here.
The GA will then be presented with a dialogue box as per image below:
Once the above dialogue box has been approved you will then see :-
After installation the application can then be found in AAD via the enterprise dashboard.
Below is a complete list of permissions given to this app:-