Electrical discharge machining (EDM) is a highly precise technology that not only facilitates the machining of components into desired shapes but also enables the alteration of the physical and chemical properties of workpieces. The complexity of the process is due to a number of regulating factors such as the material of the workpiece and tools, dielectric medium, and other process parameters. Based on the material type, electrode shape, and process configuration, various shapes and degrees of accuracy can be generated. The study of erosion is based on research into processing techniques, which are the primary tools for using EDM. Empirical knowledge with subsequent optimization of technological parameters is one of the ways to obtain the required surface quality of the workpiece with defect minimization, as well as mathematical and numerical modeling of the EDM process. This article critically examines all key aspects of EDM, reflecting both the early foundations of electrical erosion and the current state of the industry, noting the current trends towards the transition of EDM to the 5.0 industry zone in terms of safety and minimizing the impact of the process on the environment.