Cloud computing enables on-demand access to a shared pool of configurable computing resources like hardware and software that can be accessed over the internet. There are three main categories of cloud: Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). Cloud computing provides benefits like increased business agility, flexible capacity, lower costs, and faster adoption of new technologies. However, concerns about cloud include data security, reliability, vendor lock-in, and lack of control and transparency.