The IBM Automatic Sequence Controlled Calculator, also known as the IBM 701, was one of the first commercial computers developed by IBM in the early 1950s. It was designed for scientific calculations and could perform a variety of mathematical operations automatically, making it a significant advancement in computing technology at the time. The IBM 701 utilized vacuum tubes and magnetic tape for data storage, allowing it to process information more efficiently than earlier machines. Its introduction marked a pivotal moment in the evolution of computers, paving the way for future developments in automated computing and influencing subsequent models in the IBM lineup.