How to resolve Xcode project compilation failure due to missing development team configuration information?

When deploying the Xcode project to an iOS device for debugging, the following error occurs:

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Error: Signing for "Runner" requires a development team. Select a development team in the Signing & Capabilities editor (in target 'Runner' from project 'Runner').

On the iOS platform, all apps require a developer signature certified by Apple to verify the source and security of the app. If Xcode fails to detect a valid development team or certificate, it will not be able to complete the compilation and deployment of the app.

Refer to Apple's official instructions to configure a valid development team and certificate.