Python 3.8 introduces several new features, including assignment expressions, positional-only parameters, and a parallel filesystem cache for compiled bytecode files. The release also includes improvements to existing modules and functions, such as f-strings and the pickle protocol. Additionally, the debug build now uses the same ABI as the release build, and the Vectorcall protocol has been added to the Python/C API. The release aims to improve performance, readability, and usability of the language.