PyTorch is an open-source machine learning framework popular for flexibility and ease-of-use. It is built on Python and supports neural networks using tensors as the primary data structure. Key features include tensor computation, automatic differentiation for training networks, and dynamic graph computation. PyTorch is used for applications like computer vision, natural language processing, and research due to its flexibility and Python integration. Major companies like Facebook, Uber, and Salesforce use PyTorch for machine learning tasks.