Platform engineering is crucial for organizations to improve software delivery efficiency, enhance developer velocity, enforce best practices, and maintain control over costs. It serves as a bridge between development and operations, providing self-service capabilities to empower teams. To implement platform engineering, organizations need to build a dedicated team and follow steps such as identifying pain points, starting small, measuring outcomes, and iterating. Platform engineering helps balance the speed-control paradox by ensuring automation scales efficiently without introducing chaos. It enables standardization, improves scaling, enhances governance, and boosts cost management, ultimately enabling organizations to master the speed-control paradox and achieve business success.