Cloud computing allows users to access computing resources like software, storage, and processing power over the internet rather than maintaining and operating them locally. It offers benefits like accessibility across devices, lower costs, simplicity without upgrades, storage redundancy, and scalability. However, risks include security, reliability if the internet is down, latency or delay, and discomfort for some executives. Consumer applications of cloud computing include financial services, antivirus protection, social networking, media sharing, storage and backup, and connected car services. The article discusses cloud computing for enterprises and small businesses and the different types of public, private, and hybrid cloud models.