Lean UX is a framework that focuses on optimizing product development processes with user-centered design principles in agile software development. It emphasizes early customer involvement to continuously validate designs, solving real user problems rather than features, and collaborative cross-functional teams. The five key principles are: 1) early customer validation, 2) solving user problems, 3) cross-functional teams, 4) flexible tools, and 5) experimentation through quick design iterations. Benefits include empowered teams, momentum through engagement, and quality through user validation, while challenges include breaking silos and client expectations around documentation.