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Cloud Computing - Latest Buzzword or a Glimpse of the Future?

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The chairman of the Cloud Summit Executive 2008 conference reportedly started the event by joking that he asked 20 people to define cloud computing, and got 22 different answers.

The term came into vogue a few years ago and has since generated its share of controversy. Here are some descriptions they found for cloud computing:
Something that will "profoundly change the way people work and companies operate." (The Economist)
"Reliance on the Internet for satisfying the computing needs of the users." (Wikipedia)
"The next step in the evolution of Software-as-a-Service (SaaS) technology." (Knowledge@W.P. Carey, Arizona State University's online business publication)
"Industry-speak for just about anything tangentially related to the Internet." (Ben Worthen, The Wall Street Journal)
"We've redefined cloud computing to include everything that we already do. I can't think of anything that isn't cloud computing with all of these announcements." (Larry Ellison, Oracle)

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