The phrase 'ego sum magister' translates to 'I am the teacher' in English. This statement exemplifies the use of personal pronouns, which are essential in expressing identity and role in Latin. In this phrase, 'ego' is the first-person singular pronoun for 'I,' 'sum' is the first-person singular form of the verb 'to be,' and 'magister' means 'teacher' or 'master,' showcasing a simple yet clear subject-verb-complement structure.