The document discusses the concept of Web 2.0, which was coined in 2005 and refers to online services that emphasize user-generated content, heavy interaction, and sharing. It describes four key elements of Web 2.0 - prosumer participation, connectedness, APIs, and remote data storage. Examples of Web 2.0 applications and trends are given, such as user-generated content on sites like YouTube, Flickr, and blogs. The growth of new information and how Web 2.0 is changing models of communication are also briefly touched on. The document concludes by discussing how businesses can leverage Web 2.0 applications and services.