How can dynamic typing in programming languages lead to more flexible code development?

Dynamic typing is a feature of some programming languages where the type of a variable is checked during runtime as opposed to compile-time. This approach contrasts with statically typed languages, where variable types must be explicitly defined and are checked at compile-time. The flexibility offered by dynamic typing allows developers to write more generic and adaptable code, which can lead to faster prototyping and development. However, it may also result in less predictable code behavior and potential runtime errors. Given these aspects, how can developers effectively leverage dynamic typing to maximize flexibility while minimizing potential pitfalls in code development?