Exponentiation is a mathematical operation that involves raising a number, called the base, to a power, known as the exponent. For example, in the expression 2^3, the base is 2 and the exponent is 3. This means you multiply 2 by itself 3 times: 2 × 2 × 2, which equals 8. Exponentiation is a quick way to express repeated multiplication. This operation is widely used in various fields, including science, engineering, and finance. For instance, in computer science, exponentiation helps in calculating algorithms' complexity, while in finance, it can be used to determine compound interest over time. Understanding exponentiation is essential for grasping more advanced mathematical concepts.