Namely, Japanese cartoons where the characters have giant eyes (anime eyes) and funky colored hair. The word “anime” is shorthand for this, and sometimes it can be used in a derisive fashion in English.
In English, the word anime will continue to be used to describe animation from Japan—better yet, a certain type of animation.
In Japanese, anime is written as “アニメ” (literally, “anime”) and is short for the word animation (アニメーション or animeeshon).
(The other branding, Japanimation, has been used in both Japan and abroad, but as noted in The Anime Encyclopedia, the term evokes a wartime slur.)