Polymet is a design tool that leverages artificial intelligence to help users rapidly transform ideas into prototypes. By connecting Figma with a code repository, it enables quick design and iteration, while exporting production-ready code that adheres to design patterns. The key advantages of Polymet include accelerated design and iteration speeds, seamless integration between design tools and code repositories, and AI-assisted design that reduces manual coding workload, thereby speeding up time-to-market for products.