Asynchronous programming enhances application performance by allowing multiple operations to occur concurrently without blocking the execution of other tasks. This approach enables applications to remain responsive, even while handling lengthy operations like file I/O or network requests. By using techniques such as callbacks, promises, and async/await, developers can optimize resource utilization, improving overall efficiency. As a result, asynchronous programming is crucial for developing fast, responsive applications, especially in environments where user experience is paramount.