TypeScript is a statically typed superset of JavaScript that compiles to plain JavaScript. It adds features like type annotations, interfaces, and generics, improving code readability, maintainability, and reliability. TypeScript helps developers catch errors at compile time, reducing runtime bugs. Its compatibility with existing JavaScript code allows for a gradual adoption in projects. TypeScript is widely used in modern web development, especially in frameworks like Angular and libraries like React, where its static typing and tooling significantly enhance the developer experience.