Aleksey Savchenko discusses updates and future plans for Unreal Engine 4, including features from version 4.12 such as the new Sequencer for in-game cinematics, a VR editor, and cooking blueprints to C++. Upcoming improvements for version 4.13 focus on mobile rendering, physics performance, and better integration of UMG and Sequencer. Best practices from the Paragon project emphasize animation processing efficiency, character movement optimization, and innovative uses of LODs and shadows.