Bitbucket Pipelines allows for continuous integration and deployment directly from a Bitbucket repository. It can deploy code to different environments like development, staging, and production based on the branch. Pipelines reduce errors by automating deployments each time code is pushed. They also integrate the entire development workflow into Bitbucket for managing code, builds, and deployments in one place. The documentation provides demos of setting up pipelines for an Angular app deployed to shared servers, Heroku, and VPS using technologies like Git-FTP and SSHPASS.