The role of algorithmic trading in financial markets is to automate the buying and selling of financial instruments, such as stocks or commodities, based on predetermined criteria. By utilizing complex algorithms and high-frequency trading strategies, traders can execute orders at speeds and accuracies beyond human capabilities. Algorithmic trading allows for better market efficiency, improved liquidity, and reduced trading costs, as algorithms can analyze vast data sets and identify arbitrage opportunities more effectively. However, it also raises concerns over market volatility and the potential for systemic risks in financial systems.