Quantum computing is considered the next big evolution of computing, capable of achieving things modern computers can’t. Everything from artificial intelligence to financial markets to encryption algorithms will be impacted by quantum computing. As a result, countries around the world are racing to advance the technology.

IBM unveiled the new computer in partnership with Fraunhofer-Gesellschaft, Europe’s largest application-oriented research organization.

“Quantum computing opens up new possibilities for industry and society,” says  Hannah Venzl, the coordinator of Fraunhofer Competence Network Quantum Computing. “Drugs and vaccines could be developed more quickly, climate models improved, logistics and transport systems optimized, or new materials better simulated. To make it all happen, to actively shape the rapid development in quantum computing, we need to build up expertise in Europe.”

The new computer is already hard at work, testing simulations for new materials for energy storage systems, analyzing energy supply infrastructures, financial asset portfolios and improved deep learning for machine learning applications.

“I am very pleased about the launch of the IBM Quantum System One in Germany, the most powerful quantum computer in Europe,” said Arvind Krishna, IBM CEO (translated from German.) “This is a turning point from which the German economy, industry and society will benefit greatly. Quantum computers promise to solve completely new categories of problems that are unattainable even for today’s most powerful conventional computers.”