What is the significance of the error message "Function eregi() is deprecated" in PHP?

The error message "Function eregi() is deprecated" in PHP indicates that the eregi() function is no longer recommended for use as it has been deprecated. To solve this issue, you should replace eregi() with the case-insensitive version of preg_match() function in your code.

// Replace eregi() with preg_match() for case-insensitive matching
if (preg_match("/pattern/i", $string)) {
    // Your code here
}