Caret is the name for the symbol ^ in ASCII and some other character sets. Its Unicode code point is U+005E, and its ASCII code in hexadecimal is 5E. Strictly speaking, the caret character in common use is actually referred to in the Unicode standard as the "CIRCUMFLEX ACCENT"; the Unicode character named "CARET" is actually a distinct, much less common character, at code point U+2038 (‸). There is also a combining mark, U+02C6 "MODIFIER LETTER CIRCUMFLEX ACCENT", which is used when a circumflex is to be added as a diacritical mark to another letter. However, the term "caret" is most frequently used to refer to the first of these.
The caret is also found on some typewriters, where it is used to denote a circumflex accent in languages which require it, such as French.
Most recently, the caret has found use as a symbol in computer programming languages. This usage can be traced back to ALGOL 60, which expressed the exponentiation operator as an upward-pointing arrow, intended to evoke the superscript notation common in mathematics. The up-arrow character was codified as character 5E in the original 1963 version of the ASCII standard; however, this was a short-lived placement. The 1965 ECMA-6 standard replaced the up-arrow with the currently-used caret (and the left-arrow with the underscore); two years later, the second revision of ASCII followed suit, due to pressure from international standards committees requiring the character's presence as a diacritical mark (the circumflex).
It is also used in common emoticons such as "^_^".
In Mathematics, the caret can be used to denote that a number is raised to the power of another number. For example, 7 cubed could be written 7^3, instead of the conventional . It may be used when superscript is unavailable.