Cloud Computing, almost no matter how you define it, done right will save you money and time by best fitting your technology related capital and operational costs to your product or service demand life cycle more closely. It allows you to pay as you go at some reasonable level of granularity in time and money. It is a powerful way to deploy and manage information technology for the purpose of solving business problems quickly, securely and with very precise levels of control depending on the choices you make. People that use cloud computing techniques well now have the tools, should they choose to use them, that help make sure that the technology budget is used truly effectively and IT departments become more agile, productive, and provide tremendous value to the business that need them.
Cloud Computing as a paradigm shift is a significant technological evolution that has the power to drive a revolution for how businesses and technology relate to one another and operate together. It has taken years to get here and it's formed from the excellent work many in business and academia have been developing for many, many years.
All the various concerns around security, control, or newness that make people scared are being quickly remedied or are often blown out of proportion. Technology deployment done right, the cloud computing way, is in my opinion, more secure and easier to control than any IT deployments ever before so long as you have good people, good process, and a sense of what you really want to achieve. Also, it's not even that new when you really boil it down. There are few limits to what you can achieve if you have the ideas and the tools. Cloud Computing is a very powerful tool.