PCR involves multiple cycles of heating and cooling to amplify a specific segment of DNA. The process includes three main steps: denaturation, annealing, and extension. In the denaturation step, the double-stranded DNA is heated to separate it into two single strands. During annealing, short DNA sequences known as primers bind to the target DNA sequence. In the extension phase, an enzyme called DNA polymerase synthesizes a new DNA strand by adding nucleotides to the primers.