EIP-7702 is an Ethereum Improvement Proposal that enables Externally Owned Accounts (EOAs) to temporarily act as smart contract wallets during a transaction. This allows users to benefit from advanced smart contract features, like sponsored gas or batch operations, without permanently migrating to a contract account. It's seen as a successor to EIP-4337 (Account Abstraction), offering a more elegant and backward-compatible solution for improving user experience and onboarding in Web3.