Arrow function syntax vs function definition

Are there any differences between creating a function using arrow function syntax and the traditional function definition syntax? I’ll provide an example:

const myFunction = () =>{
return (‘Output’);
}

function (myFunction){
return (‘Output’);
}

I guess both would return the same, but I wander if there are any differences I am not aware of.
Thanks in advance.

Please see here:

https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Functions/Arrow_functions

it explains the new arrow syntax (shorter, binding of this keyword) and so on

When I read the title for these posts, I was hoping to see something that would suggest one version versus another as a regular practice going forward. Given the emphasis on human readability for one’s code. It appears to be a preference of one versus another. Is that true? If so, I prefer function definitions for clarity sake. Is my prefence going to be a problem more than a specific syntax required for a Codecademy lesson task approval? I cringe at the sight of =>. Its like a diving board into an abyss. Nevertheless, if I must.

No, the arrow function is es6 and is not supported by all browsers:

Can I use... Support tables for HTML5, CSS3, etc

so if you need to support IE, you would need to transpile or avoid es6 (transpile has preference). Sometimes the standard is also determined by the team you work in

Generally, new syntax is intended as an improvement