The Notifications toggle can be found at the top left of each Collection Folder, including Alerts, Discovery, Profiles, etc.
This feature allows an individual User to receive automated emails when a new item comes into a specific folder.
The toggle is specific to the Folder the User has enabled it in. If a User wishes to receive notice when there is a new item in Discovery AND Alerts, the User must toggle on the Notification feature in both the Discovery page AND the Alerts page.
Turning on this feature will not enable automated emails for every User in the account.