How can the shorthand version of the ternary operator in PHP7 be utilized to simplify conditional statements?

Using the shorthand version of the ternary operator in PHP7 can simplify conditional statements by condensing them into a single line of code. This allows for cleaner and more readable code, especially when dealing with simple conditional checks.

// Traditional if-else statement
if ($condition) {
    $result = 'Condition is true';
} else {
    $result = 'Condition is false';
}

// Shorthand ternary operator
$result = $condition ? 'Condition is true' : 'Condition is false';