Serverless functions offer a modern approach to application development and deployment by eliminating the need for continuous server operation, thereby reducing costs and complexity. This architecture enables automated scalability and is event-driven, meaning functions execute only when triggered by specific events such as HTTP requests or database changes. Serverless functions integrate well with microservice architectures, allowing for modular and maintainable systems, and can also be used to extend monolithic applications for specific tasks. They are particularly suited for tasks such as backend API provision for web and mobile apps, multimedia processing, IoT event handling, and chatbots. Additionally, serverless computing supports edge computing, improving performance by executing functions closer to users. However, challenges such as cold start latency and potential vendor lock-in need to be considered. Debugging relies on cloud provider tools and third-party services, while security best practices involve protecting endpoints and managing third-party dependencies. The rise of serverless functions has also led to increased platform extensibility, with companies like Contentful introducing native serverless capabilities to streamline integration and reduce infrastructure burdens for developers.