Raw pointers are a fundamental feature in programming languages like C and C++. They are variables that store the memory address of another variable, allowing direct access to that memory location. This can lead to efficient memory management but also increases the risk of errors, such as memory leaks or accessing invalid memory. Unlike smart pointers, raw pointers do not automatically manage memory. Programmers must manually allocate and deallocate memory using functions like malloc and free in C, or new and delete in C++. This gives developers more control but requires careful handling to avoid common pitfalls.