The Better Salesforce Formula extension enhances the built-in Salesforce formula editor with features such as syntax highlighting, autocomplete for fields and metadata, and an optional GPT AI assistant to aid in writing formulas. This tool is aimed at both new and experienced Salesforce users who want to streamline their formula crafting process. It provides a more intuitive and error-free approach to create complex formulas, making it easier for users to understand and manage their Salesforce workflows.