During the last few years, the concept of serverless, in particular functions-as-a-service, has caused a real hype in cloud native application development – and for good reasons, as the promise of serverless is manifold: the abstraction of infrastructure concerns so developers can focus on implementing business logic, the automated horizontal scaling even down to zero, the pay-per-execution pricing model, the intrinsic high availability, and the event-based programming model that fits so many real-life use cases. Until recently, serverless was mainly associated with using the respective offerings from the large public cloud service providers. With the emergence of open-source projects such as Knative, serverless comes into the reach of hybrid and private cloud users. In this session, Dominik Langer will first explain the tenets, use cases and benefits of serverless for both developers and business. He will proceed giving an overview of current standardization efforts, available technologies and observable trends.