Android Studio 4.0 includes new features to improve app design, development, and building. It features a Motion Editor for animation, an upgraded Layout Inspector, layout validation tools, a smart editor for R8 code shrinking rules, CPU profiling upgrades, and Kotlin support improvements. Build improvements include a Build Analyzer, dynamic feature dependencies, Java 8 language desugaring, build feature configuration options, and Kotlin DSL script file support. Android Studio 4.0 is available for download and provides a better development experience.