Have you ever wondered how an induction cooker actually works?

There is no flame nor heater, but food that is placed in a pot/pan can still be cooked even more quickly than if a flame was used.

Yet, it is perfectly safe for us to put our hands on an induction stove that is in operation. The same device that cooks our food or boils our soup in minutes does not even feel hot to our hands.

Why is the induction cooker so magical? How does it really work?