An induction electric motor or asynchronous motor is an AC electric electric motor in which the electric current in the rotor had a need to produce torque is obtained by electromagnetic induction from the magnetic field of the stator winding. … An induction motor’s rotor could be either wound type or squirrel-cage type.
Great things about AC Induction Motors are:

Induction motors are basic and rugged in structure. They are better quality and can operate in any environmental condition
Induction motors are cheaper in expense due to simple rotor construction, absence of brushes, commutators, and slip rings
They are free of maintenance motors unlike dc motors because of the lack of brushes, commutators and slip rings
Induction motors can be operated in polluted and explosive environments as they don’t have brushes that may cause sparks
AC Induction motors are Asynchronous Devices meaning that the rotor does not convert at the exact same speed because the stator’s rotating magnetic field. Some difference in the rotor and stator rate is necessary in order to develop the induction into the rotor. The difference between the two is called the slip. Slip must be kept in a optimal range to ensure that the motor to use efficiently. Roboteq AC Induction controllers could be configured to operate in another of three modes:

Scallar (or Volts per Hertz): an Open up loop mode where a command causes a simultaneous, fixed-ratio Frequency and Voltage alter.
Controlled Slip: a Closed Loop speed where voltage and frequency are managed to keep slip within a narrow range while working at a preferred speed.
Field ac motor Oriented Control (Vector Drive): a Closed Loop Rate and Torque control that functions by optimizing the rotating field of the stator vs. this of the induced field in the rotor.
Find this video from Learning Engineering for a visual illustration on how AC Induction Motors are constructed and work.