What does the '=' operator signify in Python?

In Python, the '=' operator is used as the assignment operator. Its primary function is to assign values to variables. For instance, when you write x = 5, the value 5 is stored in the variable x. This means that any time you reference x afterwards in your code, it will represent the value 5 until it is changed by another assignment.

The assignment operator does not assess equality or perform arithmetic operations; instead, it establishes a relationship between a variable name and a value. This fundamental operator is critical to programming, as it enables the storage and manipulation of data throughout a program. The distinction from other operators is essential: comparison operators are used to evaluate whether two values are equal or not, while arithmetic operators handle mathematical calculations.