Aggregation‐induced emission (AIE) refers to a photophysical effect that the luminescence of aggregates is stronger than that of the dispersed state. Since the concept of AIE was coined by Professor Ben Zhong Tang and co‐workers in 2001, AIE has evolved from a simple luminescent phenomenon to a multidisciplinary research field with a widespread influence. It has changed people's way of thinking about chromophore aggregation and greatly promoted the development of advanced luminescent materials. During the 20‐year development, diverse AIE luminogens (AIEgens) with attractive functionalities have been developed and remarkable achievements have been made in the mechanistic study and high‐tech applications of AIEgens. In this review, we provide an overview of the historical development and representative achievements of AIE research. Perspectives on the application of AIE in aggregate science are also briefly discussed to guide the future development in this field.