The process that involves the conversion of light energy into chemical energy is known as photosynthesis. This vital process occurs in plants, algae, and some bacteria, where light energy, typically from the sun, is used to convert carbon dioxide and water into glucose and oxygen. Photosynthesis is fundamental to life on Earth, as it creates organic compounds that serve as food for nearly all living organisms. Additionally, it plays a crucial role in regulating the Earth's atmosphere and carbon cycle, underscoring its ecological significance.