PyQt allows developers to create applications with Qt and its multi-platform functionality using the Python programming language. Python offers easier development through automatic memory management, a more intuitive syntax, and faster learning curve compared to C++. PyQt bridges Qt and Python by mapping every Qt class to a Python class, allowing developers to leverage Qt's features while coding in Python. This allows for rapid application development while maintaining the multi-platform capabilities of Qt applications. The presentation provides examples of PyQt applications and addresses common myths about using Python for real applications.