Short Definition
An algorithm is a precise procedure for solving a problem or computing a result.
Intuition
It is a recipe that tells a computer what steps to follow.
Technical Definition
An algorithm is a finite, well-defined sequence of operations that transforms inputs into outputs under specified conditions.
Example
Binary search is an algorithm for finding an item in a sorted list.
Common Misunderstandings
An algorithm is not necessarily machine learning.
The same problem can have many algorithms with different tradeoffs.