Most AC motors are induction motors. Induction motors are favored due to their ruggedness and simplicity. In fact, 90% of industrial motors are induction motors.
Nikola Tesla conceived the basic principles of the polyphase induction motor in 1883 and had a half horsepower (400 watts) model by 1888. Tesla sold the manufacturing rights to George Westinghouse for $65,000.
Most large ( 1 hp or 1 kW) industrial motors are polyphase induction motors. By polyphase, we mean that the stator contains multiple distinct windings per motor pole, driven by corresponding time-shifted sine waves. In practice, this is two or three phases. Large industrial motors are 3-phase. While we include numerous illustrations of two-phase motors for simplicity, we must emphasize that nearly all polyphase motors are three-phase. By induction motor, we mean that the stator windings induce a current flow in the rotor conductors, like a transformer, unlike a brushed DC commutator motor.