This document discusses cloud computing and compares it to traditional hosting. It defines cloud computing as a service accessed over the internet rather than a product. The key advantages of cloud computing are agility, lower costs, device and location independence, improved security, and easier maintenance and reliability. The document outlines the major service models of cloud computing: Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). It also notes some risks of cloud computing such as long resolution times, terms and conditions issues, dependence on providers, and data migration challenges.