The theoretical foundation of algorithms, in the form of the Turing machine, was established several decades before digital logic circuits could actually implement such a machine. The Turing machine is essentially a mathematical model that, using a predefined set of rules, translates a set of inputs into a set of outputs. The first implementations of Turing machines were mechanical and the next generation may likely see digital logic circuits replaced by quantum circuits or something similar. Regardless of the platform, algorithms play a central predominant role.
Another aspect is the effect algorithms have on technological innovation. As an obvious example, consider the page rank search algorithm, a variation of which the Google Search engine is based on. Using this and similar algorithms allows researchers, scientists, technicians, and others to...