It helps people, who thought they'd never walk again, move and the opportunity for a better quality of life. It's lightweight and it's relatively affordable, compared to other exoskeletons that would cost you $100,000 or more.
SuitX (a trademark of US Bionics) spent a decade researching to help people with mobility disorders by offering them a product that is "functional, easy to operate, lightweight, and affordable" at $40,000. They created the Phoenix exoskeleton, which was at the time of its outing "the world's lightest and most advanced exoskeleton", giving people the opportunity to stand up and walk either at home, in the clinic or in their workspace.
The exoskeleton is modular and allows users to independently put on and remove each piece. It's easily adjustable for different size users, small or large, and is created in order to be configured to fit individual requirements. Users can also wear it while seated in a wheelchair, feeling perfectly comfortable. Phoenix features an intuitive interface, so the users themselves are able to effortlessly control standing up, sitting down and walking.
Being very light at 12.25kg (not the lightest in existence today, though), it doesn't additonally burden the user - instead, it affords greater agility. The speed depends on each individual. First-time users will probably go a little slower, so they can first get used to this new technology, while those who are more confident already, can take it up a notch. Moving with Phoenix also requires crutches to maintain balance and offer support. According to SuitX, a user that tried Phoenix (SuitX mainly worked with patients who suffer from spinal cord injuries), moved at 0.5 m/sec.
One a single charge of the battery that the user wears in a backpack on his back, the exoskeleton is capable of continuously walking for 4 hours (intermittently for 8 hours). There is even an app that you can use to monitor your walking data.
The company is still developing the product, striving to further reduce production costs as well as improve functionality. One of their biggest goals is to develop an exoskleton for children with neurological disorders who need intensive physical therapy to maintain their mobility.
The video below is from 2014, but it will give you a good idea about how a person with a mobility disorder can in fact rise like a Phoenix.