Step 1: Conceptual Understanding:
$K_{sp}$ is product of ion concentrations raised to their stoichiometric coefficients.
Step 2: Explanation in Detail:
$\mathrm{Al_2(SO_4)_3 \rightleftharpoons 2Al^{3+} + 3SO_4^{2-}}$, so $K_{sp} = [\mathrm{Al^{3+}}]^2[\mathrm{SO_4^{2-}}]^3$.
Step 3: Therefore, Stating the Final Answer
$K_{sp} = [\mathrm{Al^{3+}}]^2[\mathrm{SO_4^{2-}}]^3$.