Condensed matter physics deals with the complex behavior of many-particle systems. Novel phases of matter can emerge as a result of strong interactions between the constituent particles. A natural place to look for these phenomena are the so-called quantum phase transitions, the boundaries between different quantum ground states of matter. This talk first gives an introduction into quantum phase transitions and then discusses several exotic new phases of matter that have been discovered in their vicinity in solids as well as in ultracold atomic gases.