Cloud computing is the opposite of on-premise computing. In an on-premise setup, the organization owns the hardware (servers, networking, etc.), hire their own IT experts to manage their data center, and pay for the space. This includes physical security, around the clock shifts to manage the servers, and more. Basically, they are responsible for everything and have to do the necessary to manage all their risks.
In Cloud Computing, the cloud provider such as AWS, Azure, or Google Cloud rents its resources. They are called cloud providers. As a customer, you use the cloud provider’s hardware. The cloud provider is responsible for procuring the hardware, hire IT experts, pay for the real estate, pay for its maintenance, pay for physical security.
Cloud computing involves using remote hardware on the Internet to store, manage, and process data rather than a local computer or data center.