What are AMMs and what do they offer?

Has anyone heard of AMMs? I was reading through a DEX project from Twitter when I saw the term after a little bit of research, I found that it means Automated Market Makers, it uses algorithmic mechanisms to facilitate the trading of digital assets. I didn't understand much about the project but I did understand that it maintains liquidity in the DeFi ecosystem through liquidity pools, benefiting token creators and ecosystem builders. Still, I'd like to learn more if anyone else know more about this project, TQ.