Why do we need algorithms?

If we had computers with infinite processing power (CPU), infinite memory (RAM), we would still need algorithms but any correct method would work. Some would still want to follow good software engineering practices while some would pick whichever method they find suitable and go on. However, that’s not the case in today’s world at least where computers have infinite processing power and memory, so we are still bound to some limitations. Efficiency is a key when it comes to algorithms.

Wonder would one thay this topic become obsolete?