Cloud computing provides on-demand access to shared computing resources over the internet. It allows users to access files, applications, and storage from any device. The term cloud refers to the internet in diagrams. There are private, public, and hybrid cloud models. Advantages include worldwide access, increased storage, easy setup, automatic updates, and reduced costs. Disadvantages can include downtime if the internet is offline, security issues with hackers accessing data, high data transfer costs, and inflexibility changing cloud providers. Popular cloud companies include Apple, IBM Smart Cloud, and Google Cloud.