The significance of cloud computing in modern business lies in its capacity to enhance scalability, flexibility, and collaboration. By utilizing cloud services, companies can store and access data from anywhere, promoting remote work and real-time collaboration. This infrastructure reduces the need for extensive physical resources, lowering costs and enabling rapid scalability based on business needs. Additionally, cloud computing fosters innovation through access to advanced tools like AI and machine learning. Overall, cloud technology empowers organizations to operate more efficiently while remaining agile in competitive landscapes.