Mobx-ruby allows using the Mobx state management library in Ruby projects. It introduces observable values and computed values that automatically update dependent code. The document provides examples of using Mobx features like autorun, transactions, and integrating Mobx into Rails applications through caching, callbacks, and ActionCable. Mobx-ruby aims to simplify state management in Ruby similarly to how Mobx and related libraries work in other languages like React, Vue, and Angular.