Dynamic forms have been around for a while, and with each new Salesforce release, more improvements are made. Ultimately, this capability is aiming to eventually replace the traditional way of defining the Salesforce user interface by incorporating into record pages most, if not all, of the capabilities of page layouts.
There are still some things that page layouts are required for, but the Lightning App Builder for record pages is taking over many page layout features and giving you, the app designer, more control over your user interface. This presentation will discuss some of the main features that are available today with Dynamic Forms.