The Serverless Framework is an application framework designed to help build, deploy, and maintain serverless code. It offers integration with multiple cloud function providers, allowing for a multi-cloud approach and flexibility in the development pipeline. The framework provides dozens of plugins that can be incorporated into the pipeline, handling various deployment situations and architectures. Some essential plugins mentioned include Python Requirements, Serverless AWS Alerts, Lumigo Serverless, IAM Roles per Function, Cognito Custom Attributes, Reqvalidator, Offline, Step Functions, Serverless Webpack, and Serverless WSGI. These plugins improve serverless delivery speed, security, monitoring, debugging, and deployment efficiency. The Serverless Framework's extensibility is a key benefit, allowing developers to choose the right tools for their specific needs.