The beta firmwares allow iOS developers to test their creations on Apple's latest software ahead of its official release to the public so that they'll be ready for the public release of the new software to make transitioning as smooth as possible for regular iOS users. iOS 8 is pegged to be released to the public some time this Fall. But for now here's what' new :
Bug Reporter is no longer in the beta.
New icons in Personal Hotspot
Reports of major stability improvements on older devices
HomeKit now has privacy settings in Privacy panel
The Emoji keyboard button has been tweaked slightly
New slide to upgrade screen
Handoff now has its own panel in Settings > General > Handoff & Suggested Apps
Text Size panel, Bold Text toggle now under Display & Brightness
Ability to turn off suggested apps in Settings > General > Handoff & Suggested Apps
QuickTypes settings are now referred to as “Predictive”
Spotlight uses Bing Search for web results
Web Results in Spotlight can be toggled off
Added options to delete video/audio messages after 2 minutes or never
UI of the Clear buttons in Notification Center has been tweaked slightly
Animation for opening the App Switcher has been slowed
Health app tweaks
Keyboard Dictation now streams voice input, similar to Siri in iOS 8
Tips app has been included
New “Display & Brightness” panel in Settings
Control Center has a new look
New EU options for Roaming
Options for assigning left/right swipes in Mail
Toggle to remove Phone Favorites and Recents from App Switcher
Options for managing Bluetooth devices in Settings
New Bookmarks icon in Safari
New History panel in iTunes Radio
New editing options in Photos
New mailboxes in iOS Mail
App Store now shows supported languages and Family Sharing
iOS 8 beta 4 is available for all iOS devices that can run iOS 8, including the iPhone, iPod touch, and iPad, via the OTA (over the air) updating service in Settings > General > Software Update on devices already running an iOS 8 beta version. It will not show up for those running iOS 7.