Smart, flexible, and self‐powered sensory systems represent the developmental trend of information technology beyond Moore's law with versatility and diversity toward artificial intelligence. Piezo/tribotronics offer a direct linkage/triggering of the electrical output sensing signals with external mechanical actions in an active way, which is highly promising in smart and flexible sensors, intelligent human–machine interaction, and self‐powered systems. Starting with the origin of piezo/triboelectric nanogenerators (PENGs/TENGs), herein, a review on the piezotronic devices based on 1D nanowires, 2D materials, 1D/2D mixed dimensional structures, PENG/TENG‐gated three‐terminal devices, and their applications in various multifunctional sensors is covered. In addition, a discussion is provided around how to improve the effectiveness in utilizing the piezo/triboelectric potential and fabricate smarter and more sophisticated electronic devices. Finally, future research concerns on piezo/triboelectric potential applications are summarized. There remains a massive space for the further development of piezotronics/tribotronics, which will be a multidisciplinary subject closely associated with soft electronics, neuromorphic devices, artificial intelligence, self‐powered systems, and even ocean/space technologies.