Cloud computing allows users to access applications and files from any device with internet access. It stores and maintains data and applications on remote servers that users can access through the internet rather than local hardware. The concept of cloud computing was first suggested in 1961 as computing sold as a utility. Major companies like Amazon, Google, and Microsoft now offer cloud computing services across various models including SaaS, PaaS, IaaS, public, private and hybrid clouds. Cloud computing provides advantages like cost savings, flexibility, mobility and scalability but also poses risks such as downtime, security issues and bandwidth constraints.