>>1018698
Materials define the visual appearance of objects. They're composed of a function that defines how the material combines and processes scene inputs (usually called a shader) and parameters for that function and for combining the result with the rendered scene. Ambient, diffuse, specular and so on are all parameters that find their origin in an empirical model of light response called Phong reflection, that's been the basis for just about any shader. They're pretty intuitive parameters so they've been kept around for basically all future lighting models, although their meaning has changed over the ages.
PBR is a general term for one such shader, the Disney principled BSDF, that's been all the rage in recent years because it's more physically accurate unlike Phong's equation. The details of how aren't all that interesting but the takeaway is it's a broad and flexible model that it'll cover most material needs and look "real", and it's battle-tested, so to speak, in many movies and games. You can directly source parameters from photos or scans of a real material and it'll look good.
Because a lot of applications have adopted it as a standard, you can share materials from one to the other and it'll look the same, unlike more customized shaders where you'd have to reimplement it in each program.