Using a version control system in development offers several benefits, including the ability to track changes, collaborate seamlessly, and manage different versions of code. It allows multiple developers to work on the same project without overwriting each other's contributions. Version control provides a complete history of code edits, making it easier to identify when issues were introduced and facilitating rollback to earlier versions if necessary. Additionally, these systems support branching and merging, enhancing experimentation and innovation within teams while ensuring project integrity.