A diode is a two-terminal electronic component that allows current to flow in only one direction. It is used to convert alternating current to direct current through a process called rectification. Diodes come in various types including laser diodes, light emitting diodes, Zener diodes, and silicon diodes. Rectification uses diodes to convert AC to DC through either half-wave or full-wave rectification circuits. Zener diodes are used in the reverse bias mode as voltage regulators. Photodiodes generate current or voltage when illuminated by light and are used in applications like machine vision, range finding, and medical diagnostics.