Cloud computing is already being used by many businesses and has become a term that most people recognize. How will it change business in upcoming years? Cloud computing represents a major change in the way that technology is sold and accessed. In the past, companies bought software applications. With cloud computing, use of IT applications will become similar to using power. People pay for electricity according to how much they use it. Similarly, IT products will exist "in the cloud" and people will pay according to their level of use.