I'm in the process of making my home a "smart" home. The new outlets are not a problem as they merely plug into existing outlets. The switches, however are something different. They require a ground wire. My home was built in the early 50s and has only 2 wires (white, and black). My question is this, the wires are run in romex, and I've read from other posts that conduit can act as a ground. Is it the same with Romex as it is metal too.
No. "Romex" is a trade name and is actually a brand of non-metallic cable or NM cable. Article 334 of the National Electrical Code.
If your house was wired with NM cable in the 50's or before, it most likely has no ground wire.
Smart switches require either an equipment ground or a neutral wire to power the smart switch while it is waiting to turn on the lights. You should not depend on visualizing wires in the boxes. You should test your system to determine if there is an equipment ground available at these locations. There was a method in the 50's of taking the equipment ground and wrapping it around the cable and then clamping it into the box. So, you boxes may be grounded after all.
If you don't have an equipment ground, all is not lost. You can run separate equipment ground wires to any of the boxes where you need one. It will be a hassle but the switches will not work without it.