Feature Flags are a software development technique that allows teams to enable or disable specific features in an application without deploying new code. This means developers can test new functionalities in real-time, gather user feedback, and make adjustments before fully launching the feature to all users. Using Feature Flags helps reduce risks associated with releasing new features, as they can be rolled back quickly if issues arise. It also enables A/B testing, where different user groups can experience different versions of a feature, helping teams make data-driven decisions about product improvements.