The announcement in 2014 that Python 2.7 would be supported until 2020, encouraged users to move to Python 3 from Python 2, making Python 2 nearly obsolete and Python 3 the future. This table shows why companies are moving from Python 2 to Python 3.1. A string is stored as ASCII by default.A string is stored as Unicode by default.2. Treats “print” as a statement.Treats “print” as a function.3. Division of integers always returns integers. [5/2=2]Division of integers may result in a float. [5/2=2.5]4. raw_input() reads strings.raw_input() is not available.5. input() evaluates data read.input() always reads string.