RAID (Redundant Array of Independent Disks) is a technology that improves data protection and I/O performance by leveraging multiple hard drives. It can be implemented via hardware or software, with various RAID levels (0-6) offering different characteristics such as striping, mirroring, and parity for data redundancy and performance. Each RAID level has unique advantages and trade-offs regarding data protection, capacity, and performance, catering to different application needs.