wtf is 'induction' cooking?

Induction cooktops heat your pan directly with an alternating magnetic current. How does that work? Is it better than gas or electric? Let's find out. ***SOURCES IN ORDER OF APPEARANCE*** Industry Research report showing China's induction cookware market dominance (free summary, full report not free): https://www.industryresearch.biz/global-induction-cooktop-market-2019-by-manufacturers-regions-type-and-application-forecast-to-2024-13856622 Dr. Shannon Yee, engineering professor at Georgia Tech: https://www.me.gatech.edu/faculty/yee Illustration of eddy currents: https://en.wikipedia.org/wiki/Eddy_current#/media/File:Eddy_currents_due_to_magnet.svg Michel Roux Jr showing his updated kitchen at Le Gavroche: https://youtu.be/qceXSza7O9s Consumer Reports article testing the performance of gas vs. electric stoves (free sample, full report not free): https://www.consumerreports.org/ranges/gas-or-electric-range-which-is-better/ My video about whether it's safe to cook with a ring on: https://youtu.be/rPIaukn5Xlw Survey by iResearch in which most Chinese respondents said they own a small induction hob (not free): https://www.statista.com/statistics/1048158/china-small-kitchen-appliances-ownership/ Allied Market Research report that linked the popularity of induction cooking to health-consciousness (free summary, full report not free): https://www.alliedmarketresearch.com/household-induction-cooktops-market Report presented to the American Council for an Energy-Efficient Economy on the energy efficiency of induction cooktops, which found they're more efficient than electric when heating small pots but not large pots: https://aceee.org/files/proceedings/2014/data/papers/9-702.pdf Article questioning the energy efficiency of induction (I don't really know who this is, but it's very well-cited and seems well-researched): https://www.centurylife.org/is-induction-more-efficient-than-electric-coil-or-gas-an-energy-efficiency-comparison-between-stoves/#fn-6116-1