Considering the exponential computational complexity of accurately simulating quantum systems on classical computers, almost four decades ago Richard Feynman introduced the concept of a quantum computer to simulate quantum systems. With rapid progress in quantum technology, Feynman's vision is slowly becoming reality and it is timely to think about a future of materials simulations, accelerated by quantum computers. In this talk Matthius will give an introduction to quantum algorithms for the simulation of materials and molecules. He will review significant recent progress in the field and present exciting opportunities offered by future quantum computer. Given a growing hype around quantum computing he will also debunk some myths, to bring clarity around the realistic potential of quantum computing.