There seems to be some confusion about induction heating here, so I'm linking an article explaining it. In an nutshell, an alternating current is run through a coil surrounding the part to be heated. That creates a fluctuating magnetic field which, in turn, induces electrical eddy currents within the part, causing it to heat up. The process offers excellent precision and control and is very clean. As those with induction stoves know, it can only heat conductive materials, so glass cookware will never heat.

As I said earlier, it's not at all new, and Italian bike factories have been using it since the sixties (if not earlier). If you own a vintage Italian production bike odds are it was brazed using induction rather than gas. Besides being economical in places where electricity is cheaper than gas, it also offers advantages in quality control, and post brazing clean up.