The presentation by Suhas A. Kelkar explores how cloud computing is transforming traditional software development lifecycle (SDLC) and application lifecycle management (ALM) by enabling shorter release cycles, agile methodologies, and a greater focus on requirements gathering. It highlights the differences between traditional SDLC and cloud application lifecycles, emphasizing the importance of modern communication and development methods. The document also mentions the ongoing evolution of cloud computing and its potential to further bridge the gap between cloud and traditional development practices.