Explore the concept of cloud computing and its impact on IT resource acquisition. What are the advantages and disadvantages of adopting a cloud-based resource acquisition model?

1) Cloud computing refers to the delivery of computing services, including servers, storage, databases, networking, software, analytics, and more, over the internet ("the cloud"). Instead of relying on local servers or personal devices to handle applications, data storage, and processing, cloud computing allows individuals and organizations to access and use these resources via remote data centers maintained by cloud service providers.

2) This model offers several advantages, including scalability, cost-efficiency, flexibility, and accessibility. Users can leverage cloud services to run applications, store and manage data, and access computing power without the need for significant investment in physical infrastructure. The cloud also provides a platform for the deployment of various technologies, including artificial intelligence, machine learning, Internet of Things (IoT), and more.

3) It has become an integral part of modern IT infrastructure, enabling businesses, individuals, and organizations to leverage powerful computing resources and technologies without the need for extensive physical infrastructure investments.