The term "serverless computing" implies a cloud computing model where the cloud provider manages the infrastructure, allowing developers to focus on writing and deploying code without worrying about server management. In this model, resources are automatically allocated as needed, and users pay only for the computing power used during execution. This approach simplifies scalability and reduces operational costs, as developers can quickly deploy applications while benefiting from features like automatic scaling, load balancing, and built-in fault tolerance provided by the cloud service provider.