According to Mooji it's a simple acknowledgement that you, as consciousness, exists, nothing more than that. "I" - consciousness "am" - exists.

To provide a little 'contrast' and context......

The Sanskrit word 'Ahamkara' is often known as "The I of invented things," Aham means 'I' and a kara is a 'thing' of perceptual reality, not absolute reality. Meaning no disrespect you perceive yourself as a "Seeker" and if you delve into your head you'll realise that it's an image of yourself that you have created - you as a seeker is an 'invented thing' because 'seeker' is not you, consciousness is you.

If I asked you to describe yourself, everything after "I am" is your perceptual reality/an invented thing. The only absolute is that you exist, and if you no longer think of yourself as a seeker sometime in the future, you will still exist. How you perceive yourself right now won't. You'll still be here to say "I am...."