AWS Lambda is a serverless computing platform offered by Amazon Web Services that allows users to run code in response to events or HTTP requests. The article provides guidance on setting up a Lambda function using Python's standard library, including configuring an AWS Gateway API endpoint. It addresses the challenge of incorporating external libraries into Lambda, which typically requires creating a virtual environment, installing necessary packages, and packaging them into a zip file for upload. For some packages, such as pandas, the article suggests using Klayers to access pre-compiled packages compatible with AWS Lambda's environment. In cases where Klayers is insufficient, it recommends downloading wheel files or using docker-lambda to ensure compatibility. The text also encourages leveraging serverless technology like AWS Lambda for developing Software as a Service (SAAS) products, offering support for those interested in turning their ideas into business applications.