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Microsoft announces Python formulas in Excel... which have to get sent to the cloud
(techcommunity.microsoft.com)
This is a most excellent place for technology news and articles.
I believe security threats can be mitigated locally without resorts to cloud.
Actually, one can argue using cloud is less secure because there is a risk of sensitive data leaked out of cooperate network.
You could argue that, but I wouldn't recommend it.
Microsoft has a massive amount of resources to throw at securing their environment, whereas most businesses simply don't have the ability to field a dedicated security team. The solution many reach is to offload risk to your software vendor, in this case Microsoft. Then, if there is data lost, it's Microsoft's fault, and it's their problem to fix, too. It's not ideal, but it's the world we're living in.