The NIST definition of cloud computing outlines it as a model enabling on-demand network access to a shared pool of configurable computing resources, characterized by essential traits like on-demand self-service, broad network access, and resource pooling. It includes three service models: SaaS, PaaS, and IaaS, along with four deployment models: private, community, public, and hybrid clouds. This evolving framework promotes understanding of cloud computing's numerous use cases, risks, and benefits across various sectors.