What is the significance of polymorphism in programming?

Polymorphism is a core concept in programming, particularly in object-oriented programming, that allows methods to behave differently depending on the object calling them. This ability is key for implementing dynamic method dispatch, where a single interface can be used to represent different underlying data types.

When an object calls a method, the specific implementation that gets executed is determined by the actual object type at runtime, rather than the reference type defined at compile time. This leads to more flexible and reusable code. For example, if you have a base class "Shape" and derived classes like "Circle" and "Square," you can define a method "draw()" in "Shape." Each subclass can implement its own version of "draw()" that provides the specific behavior for that shape. When the method is called on a shape object, the correct implementation is executed, corresponding to the object's actual type.

This capability significantly enhances the maintainability of code, as new classes can be added without altering existing code. It promotes the use of interfaces and abstraction, which are fundamental principles in software design. Hence, polymorphism fosters a clean, scalable architecture by allowing different classes to be treated through a common interface while providing specialized behavior.