How can the U modifier in regular expressions be utilized effectively in PHP for pattern matching?

The U modifier in regular expressions in PHP can be utilized effectively for pattern matching by making the matching process ungreedy. This means that the pattern will match the shortest possible string that satisfies the pattern, rather than the longest. This can be useful when dealing with patterns that contain quantifiers like *, +, or ?. Example PHP code snippet:

$string = "This is a <b>bold</b> text";
$pattern = '/<.*?>/U';
preg_match($pattern, $string, $matches);
echo $matches[0]; // Output: <b>