The document discusses the evolution of cloud computing. It notes that the cloud has proven itself and become a default for new applications. Organizations now expect flexibility and elasticity from the cloud. It discusses various cloud service models like Infrastructure as a Service, Platform as a Service and Software as a Service. It suggests that businesses should identify a core process and develop it as a service (XaaS) to generate recurring revenue streams. Hybrid multi-cloud environments that integrate different cloud platforms will be important going forward.