Katalon Studio is a codeless automation testing tool that allows users to create tests visually without writing code. It uses a drag and drop interface or record and playback functionality to automate tests. Some key benefits of codeless automation with Katalon Studio include reduced test automation time, higher test coverage through increased regression test execution, cross-browser and cross-platform testing capabilities, and integration with continuous integration/continuous delivery tools. The presentation demonstrated Katalon Studio's features for web UI testing, API testing, and code-based versus codeless automation approaches.