Warning: SPOILERS for The Predator ahead
The Predator continues the evolution of the franchise's titular monsters with a new version, dubbed the Ultimate Predator, which stands at a terrifying 11 feet tall and weighs a whopping 700 pounds. In this movie, we learn that the Predators' practice of picking out the most worthy warriors from each species has an ulterior motive, as the species grows stronger and more lethal by combining their DNA with that of the strongest members of other alien races - humans included. The Predators' habit of taking a "trophy" from their victims (i.e. the head and spine) is actually for the purpose of obtaining DNA from the spinal column.
This also serves as an explanation for why the Predators have been coming to Earth with greater frequency. It's revealed that, since humanity is expected to die out within a couple of generations due to climate change, the Predators have been harvesting as much strong human DNA as possible before out species is gone forever. Once all the humans have died out, the Predators plan to move in and claim Earth for their own.
There are two Predators featured in The Predator: a rogue Predator who comes to Earth in order to bring humanity a weapon that might help us survive; and the Ultimate Predator, who is hunting the rogue Predator. When Earth's scientists capture and study the rogue Predator, they are disturbed to discover that it has partially human DNA, and call in Dr. Casey Bracket (Olivia Munn) to try and figure out, as she puts it, "if someone f***ed an alien."
Fortunately, that's not actually how hybrid Predators are made. We get a glimpse of the DNA splicing process when Rory (Jacob Tremblay) puts on the rogue Predator's mask and somehow unlocks what appear to be the alien's memories. We see the rogue Predator on a table with several other Predators operating on it in a way that seemingly causes it great pain (which may be why it came to resent its own kind). We don't see how the Ultimate Predator came to be made, but presumably it underwent a similar operation.
The Ultimate Predator can grow an organic exoskeleton out of its skin, which is capable of stopping high-powered bullets even at close range. The Ultimate Predator is also capable of infrared vision without the benefit of a Bio-Mask; at one point the movie cuts to the Ultimate Predator's perspective, and the creature scans the forest, zooms in, and picks out its targets - all without wearing a helmet. Official marketing for the movie says the Ultimate Predator is "made from the collected DNA of the universe's most badass species," so it's likely that it has human DNA in its cocktail (we are pretty badass, after all).
Its massive size seems to be somewhat detrimental to its stealth, as when it first appears it can be heard loudly stomping around outside, but it also has the usual Predator technology and weapons: stealth cloaking, a Plasmacaster, and retractable wrist blades. There's an extra twist to its wrist blades, however, as they can actually be fired - slicing enemies into pieces and then returning. It also has a wrist-mounted cannon that can fire powerful energy blasts.
The Ultimate Predator apparently thinks that there's still room for self-improvement, as in the third act of the movie he captures young Rory in order to harvest his DNA. As Casey explains, some believe that autism is actually the next step on the evolutionary chain, so presumably the Predator is seeking to steal some of Rory's savant abilities, like eidetic memory. Fortunately, Rory's father, Quinn (Boyd Holbrook) is able to stop that from happening, but if the franchise continues in this continuity, we may see the Predators continuing to evolve and gaining even deadlier abilities.