“Serverless computing” refers to a cloud service model where the cloud provider manages server infrastructure, allowing developers to focus on writing code without worrying about server management. The cloud dynamically allocates resources based on the application's needs, scaling up or down automatically. This model is cost-effective, as users only pay for the compute time consumed rather than reserving resources. Serverless architecture promotes faster development cycles, enhances agility, and simplifies deployment, making it increasingly popular for modern applications.