An excellent article on Serverless Computing, by Paul Castro, Vatche Ishakian, Vinod Muthusamy, Aleksander Slominski, in the Communications of the ACM, December 2019, volume 62, no. 12, pages 44-54 (https://doi.org/10.1145/3368454)
Studies of reported usage of cloud resources in datacenters show a substantial gap between the resources that cloud customers allocate and pay for (leasing VMs), and actual resource utilization (CPU, memory, and so on). Enter Serverless computing where VMs do not have to be provisioned; it is a FaaS (Function as a Service) paradigm. In the cloud context, the current serverless landscape was introduced during an AWS re:Invent event in 2014. Since then, multiple cloud providers, industrial, and academic institutions have introduced their own serverless platforms.