In software development, the term "artifact" refers to any byproduct generated during the development process, including compiled code, documentation, design models, and configuration files. Artifacts serve as tangible outputs that support various stages of the software development lifecycle (SDLC). They can be stored in repositories for version control and reference, facilitating collaboration among team members. Artifacts are essential for quality assurance, as they provide insights into the development process and ensure that standards and requirements are met. Overall, artifacts play a critical role in managing the complexity and ensuring the success of software projects.