Depends what you're using cloud computing for OB, if you're using it to store data then there is that possibility, although there are plenty of fail safes should a server go pop.
Cloud computing can also be used for processor power, you can still store all of your data in the location of your choice but the cloud is doing all of the processing for you.
Home PC processing power - 2 processors vs Cloud processing power - 100's if not 1000's of processors.
We've already started developing cloud based apps that does this kind of thing (specifically for high end simulation & analysis) and what would normally take an engineer hours or days to do, they are now doing in minutes. All of their data is still secure in the location of their choice.
Have a look at 123D catch
, it takes multiple 2D photographs and turns them into a usable 3D model in minutes using the processing power of the cloud.