How do bitwise operators (like AND, OR, XOR, left shift, and right shift) manipulate binary data at the bit level, and what are some practical examples of their usage in optimizing code performance or handling data structures?

Like for instance,
With Bitwise Operator,

a = 5
b = 3

# Bitwise AND
result_and = a & b

# Logical OR
result_or = 1 if (a != 0 or b != 0) else 0

# Bitwise XOR
result_xor = a ^ b

# Left Shift
result_left_shift = a << 2

print("Using Bitwise Operators:")
print("1. Bitwise AND:", result_and)
print("2. Logical OR:", result_or)
print("3. Bitwise XOR:", result_xor)
print("4. Left Shift:", result_left_shift)

#With Logical/Arthmetical Operator,
# 1. Compute the result of a AND b (Logical AND)
result_and = 1 if (a != 0 and b != 0) else 0

# 2. Determine if either a or b is non-zero (Logical OR)
result_or = 1 if (a != 0 or b != 0) else 0

# 3. Calculate a XOR b (Logical XOR)
result_xor = 1 if (a != b) else 0

# 4. Shift a left by 2 bits (Multiplication)
result_left_shift = a * (2 ** 2)

print("Using Normal Operations:")
print("1. Logical AND:", result_and)
print("2. Logical OR:", result_or)
print("3. Logical XOR:", result_xor)
print("4. Left Shift (Multiplication):", result_left_shift)

Among those codes in python, which gives more efficient result, time complexity, space complexity, how does bitwise actually operate among themselves?