Asynchronous programming allows for the execution of code in a non-blocking way, enabling multiple operations to occur simultaneously without waiting for one to complete before starting another. This programming paradigm is particularly useful in I/O-bound tasks, such as network requests or file operations, where delays can occur. By utilizing constructs like promises and async/await, developers can write cleaner, more efficient code and enhance application performance. This approach improves user experience by keeping interfaces responsive while handling background tasks effectively.