Serverless refers to a cloud computing approach where developers can build and run applications without having to manage the underlying infrastructure, such as servers or server instances. In the serverless model, the responsibility for provisioning, scaling, and maintaining servers lies with a cloud service provider.

Essentially, serverless doesn’t mean there are no servers; it means developers don't need to concern themselves with managing those servers. The infrastructure is automatically managed and scaled by the provider as needed, allowing developers to focus on writing application code without worrying about the underlying hardware or server configuration.

Serverless applications are often broken down into functions or services known as "Function-as-a-Service" (FaaS). Developers write functions that respond to specific events and are managed and executed by the serverless provider. These functions scale on demand and are billed based on actual usage.

Benefits of serverless include improved scalability, cost savings through usage-based billing, reduced operational complexity, and the ability to focus on developing application logic rather than managing infrastructure. It's commonly used for various types of applications such as web applications, APIs, data processing, and more.