On the plus side, since information stored in the cloud does not "live" on your computer, you can access that information anywhere that you can get a web signal- whether at home, at work, or Starbucks. You can also share that information with others so that multiple people can collaborate on projects and share family photos without having to email huge attachments and keep track of updated documents on each individual computer.
But on the potential con side, when your files are stored by another party, how do you keep control over your information (you've probably heard about the 1984 Kindle debacle where Amazon deleted copies of the book from customers' digital devices because of copyright issues)? What privacy protection rights need to be considered as we put more information away from our hard drives and off into cyberspace?
As "On Point" panelist concede, cloud computing isn't about to go away anytime soon. It will be interesting to see how we adapt the technology and how we adapt to it.