RFID (Radio Frequency Identification) technology enables the electronic identification and tracking of objects using radio signals, consisting of tags, readers, and a computer system. It offers advantages such as non-line-of-sight scanning, automation, and increased data storage compared to barcodes, with applications in various fields including healthcare, libraries, and airports. The document discusses different types of RFID tags, their operation, and specific uses in real-time tracking and inventory management.