Eddy Current:
Eddy currents are circular currents induced in a conductor when it is exposed to a changing magnetic field. These currents are also known as Foucault currents. Eddy currents are a result of electromagnetic induction, where a changing magnetic field induces a current in a nearby conductor. This phenomenon was discovered by a French physicist, Léon Foucault, in the mid-19th century.

Induced Current:
Induced current refers to the current that is produced in a conductor due to the application of a changing magnetic field. When a conductor is placed in a magnetic field and the magnetic flux through the conductor changes, an electromotive force (emf) is induced, resulting in the generation of an induced current in the conductor. This process is described by Faraday's law of electromagnetic induction.

Differences:

1. Generation: Eddy currents are generated due to the relative motion or change in magnetic field strength, whereas induced currents are produced by the change in magnetic flux through a conductor.

2. Path: Eddy currents flow in closed loops within the conductor, often in circular or helical paths. On the other hand, induced currents flow in the conductor in response to the changing magnetic field.

3. Effect: Eddy currents result in the dissipation of energy in the form of heat within the conductor. This energy loss can be undesirable in certain applications. In contrast, induced currents can be utilized to perform work or power electrical devices.

4. Amplitude: Eddy currents are relatively large in amplitude and can cause significant heating effects, especially in conductors with high resistivity. Induced currents, on the other hand, are typically smaller in amplitude and depend on factors such as the rate of change of magnetic flux and the resistance of the conductor.

5. Applications: Eddy currents find applications in devices such as induction heating systems, magnetic brakes, and metal detectors. Induced currents are harnessed in devices like generators, transformers, and electric motors.

Overall, while both eddy currents and induced currents are induced by changing magnetic fields, they differ in terms of their generation, path, effects, amplitude, and applications.