Serverless computing allows developers to develop and execute code without provisioning servers. It enables event-driven applications using functions as a service that automatically scale based on demand. Popular platforms include AWS Lambda, Azure Functions, Google Cloud Functions, and IBM Cloud Functions. Azure Functions can be used for timer-based processing, event-based processing, and serverless APIs. Durable Functions support stateful functions using patterns like function chaining. The presentation includes demos of creating and managing Azure Functions using the portal, Kudu, Visual Studio, and Durable Functions.