Open standards are publicly available specifications that allow different systems and organizations to communicate and work together effectively. They promote interoperability, meaning that products and services from different vendors can function seamlessly with one another. This is crucial in technology, as it helps prevent vendor lock-in and encourages innovation. By using open standards, developers can create software and hardware that adhere to common guidelines, making it easier for users to switch between products. Examples of open standards include HTML for web pages and TCP/IP for internet communication. These standards are often developed through collaborative processes involving various stakeholders.