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Algorithms are the basic construction of the computer programs that you are writing every day. They take language syntax and the machine uses that information to carry out our commands. While "everything is an algorithm!" is basically a true statement, we also have quite a bit of thought and effort put into defining formal algorithms. Understanding these formal algorithms helps you as a developer so that you won't need to re-invent the wheel every time you sit down to solve a problem.
They also come up quite a bit as "white board problems" in programming job interviews, so understanding algorithms is a big win for you as a coder.