This expression is common in a work/business environment. To bring someone up to speed is to tell that person the most up-to-date information. So if your boss wants you to work with Scott, he'll probably want you to update Scott on the latest information. If so, he may say, "I'll tell Scott you guys are now working together. Just bring him up to speed on the project."
A: Peter wants me to work with Scott on the project.
B: That's good, right? That way you'll finish sooner.
A: Yeah, it's good, but I have to bring him up to speed on everything, and right now, it's so disorganized. I don't know what to tell him.
B: You'll figure it out.
A: I have to. So are we still helping Ted move next week?
B: Actually, they're not sure if it'll be next week. They might have to move it back to the following week. Can you still help if they wait another week?
A: Sure. Just bring me up to speed when you get the latest, so I can make plans.
B: Sure thing. Alright, see you later.
That's it for today. Think of someone you can bring up to speed on your plans. They may appreciate getting the latest from you.
Until tomorrow. Have fun.