Electromyography (EMG) is an integral part of many biomedical and healthcare applications. It has been used as a metric for tracking rehabilitation progress and identifying diseases that affect muscle activation patterns. Although it is widely used in many disciplines, conventional EMG recording and interpretation techniques lack in providing precise signal detection and robust classification accuracy. In recent years, thanks to advances in both material science and artificial intelligence, EMG detection techniques are improving at a rapid pace. Materials that allow for enhanced biocompatibility have improved the quality of data recorded by electrodes. The use of machine learning algorithms has paved new ways to understand complex EMG signals, triggering diverse, novel, and improved application scenarios within the healthcare framework. To help readers establish a clear picture of the two most important components in EMG technology, i.e., electrodes and algorithms, while catching up with the latest research outcomes, this review article is composed. The article starts by introducing conventional EMG electrode materials and architectures, then explains how state‐of‐the‐art works have improved electrode utilization. Subsequently, EMG signal conditioning and interpretation algorithms are investigated. Finally, current challenges in the research domain and authors’ perspectives are discussed.