Reinforcement learning is a type of machine learning used to train algorithms to make sequences of decisions through trial-and-error interactions with an environment. It involves three main components: policies that define the agent's behavior, value functions that estimate the desirability of states and actions, and reinforcement learning algorithms like Q-learning that enable agents to learn from rewards and punishments. Reinforcement learning has applications in robotics, game playing, autonomous vehicles and more, though faces challenges around sample efficiency, exploration versus exploitation, and generalization. Future work includes more advanced applications, improved algorithms, and addressing ethical implications.