Wiktionary
n. the production of an electrical potential difference in a conductor situated in a changing magnetic flux
Wikipedia
Electromagnetic or Magnetic induction is the production of an electromotive force or voltage across an electrical conductor due to its dynamic interaction with a magnetic field.
Michael Faraday is generally credited with the discovery of induction in 1831, and mathematically described it as Faraday's law of induction. Lenz's law describes the direction of the induced field. Faraday's law was later generalized to the Maxwell-Faraday equation, which is one of the equations in James Clerk Maxwell's theory of electromagnetism.
Electromagnetic induction has found many applications in technology, including electrical components such as inductors and transformers, and devices such as electric motors and generators.