Cloud computing is a model allowing centralized data storage and access to services via the internet, categorized into public, private, hybrid, and community clouds. It employs service models like IaaS, PaaS, and SaaS, emphasizing flexibility, cost savings, and easy data management while also posing risks like dependency on providers and security concerns. The presentation outlines its advantages, disadvantages, and steps to utilize cloud services, highlighting its efficiency and potential for businesses.