I believe the answer is that induction is more efficient at getting heat into your food.

With electric, it heats up a coil that heats up your pan (and the air around it) that heats your food.

With induction, it skips the coil and simply heats the pan. The pans are specially designed to contain a heating coil in them which implicitly is closer to your food.

It also means the work surface tends to cool quickly (or never get hot in the first place), making it safer.