* Having multiple perspectives on design.
* Having an extra pair of eyes to catch things one person might miss.
* Being able to bounce ideas off each other.
* Redundancy (if you are on holiday or sick somebody else still knows the code deeply)
* Onboarding (it works better at getting me up to speed than any docs ever have)
* Motivation (i find it's kind of like having a gym buddy).
* Bonding (assuming you get along with whomever you're pairing with)
I get that not everybody likes it though.
I feel that it's somewhat irksome for introverts and companies try to use it as a means of making developers more replaceable, which some people hate.