High traffic during business hours, no traffic at night, weekends and vacations, multiple teams, and several staging environments - these characteristics of a typical enterprise application. Pay-as-you-go, "scale-to-zero" and managed services make serverless architectures appealing for enterprise applications.
On-premise, on the other hand, you get the maximum flexibility and full access to machines with less automation and so more plumbing.
I will compare both approaches with focus on architecture and answer your questions in real time.

Target Audience: Developers, Architects
Prerequisites: Basic Cloud and Java Knowledge
Level: Advanced