Serverless computing, which involves shifting server management responsibilities to platform providers like AWS, Google, and Azure, requires a new approach to application reliability, as highlighted in a blog discussing three key facts about serverless reliability. Despite the advantage of not managing physical infrastructure, developers must still take control of reliability by focusing on code reliability rather than infrastructure reliability, as serverless architectures do not inherently guarantee reliability. Developers can enhance serverless applications' fault tolerance by optimizing CPU and RAM allocation, managing concurrency to create redundancy, and writing resilient code that anticipates failures. Practices such as asynchronous communication, message queuing, circuit breakers, and deploying caches can mitigate common serverless failures, which are applicable across different deployment models beyond serverless. Tools like Gremlin's Failure Flags allow organizations to proactively test and verify the resilience of their serverless applications, ensuring they meet reliability standards by simulating failure scenarios and continuously identifying potential risks before they affect users.