The inciting incident of a story is the event that sets the main character or characters on the journey that will occupy them throughout the narrative. Typically, this incident will upset the balance within the main character's world.

Is the inciting incident the problem?

Some story gurus call the inciting incident “the problem.” (Miller, by the way, has since changed his definition of the inciting incident to “the problem,” moving away from a character's desire.) Others call it something more positive, “the call to adventure,” for example.

Is the inciting incident the same as the conflict?

Probably the most common understanding of the Inciting Event is that it's the first moment in your plot. This is the beginning of your story–possibly even the first sentence. This opening scene will introduce your main character and the main conflict. ... It's the beginning of your story.