Network Functions Virtualization (NFV) is a technology that allows network services to be virtualized and run on standard hardware instead of specialized devices. This means that functions like firewalls, load balancers, and routers can be implemented as software applications, making networks more flexible and easier to manage. By using NFV, organizations can reduce costs and improve scalability. They can quickly deploy new services without needing to invest in new physical equipment. This approach also enhances network agility, allowing for faster updates and changes to meet evolving business needs.