Serverless technologies offer several benefits, including auto-scaling, pay-per-execution pricing models, leveraging third-party services, focusing on business logic, and event-driven workflows. This abstraction layer shifts complexities away from developers, allowing them to focus on core business logic, UX, and other key aspects of their applications. Serverless functions are well-suited for a wide range of use cases, such as web and mobile backend APIs, form processing, image processing, and scheduled cron jobs. However, they may not be the best fit for ultra-low latency characteristics, like real-time gaming or applications using websockets, due to limitations in maximum timeout (currently 5 minutes) and potential performance issues.