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While numerically solving a problem initially formulated on an unbounded domain, one typically truncates this domain, which necessitates setting the artificial boundary conditions (ABC's) at the newly formed external boundary. The issue of setting the ABC's appears to be most significant in many areas of scientific computing, for example, in problems originating from acoustics, electrodynamics, solid mechanics, and fluid dynamics. In particular, in computational fluid dynamics (where external problems present a wide class of practically important formulations) the proper treatment of external boundaries may have a profound impact on the overall quality and performance of numerical algorithms. Most of the currently used techniques for setting the ABC's can basically be classified into two groups. The methods from the first group (global ABC's) usually provide high accuracy and robustness of the numerical procedure but often appear to be fairly cumbersome and (computationally) expensive. The methods from the second group (local ABC's) are, as a rule, algorithmically simple, numerically cheap, and geometrically universal; however, they usually lack accuracy of computations. In this paper we first present a survey and provide a comparative assessment of different existing methods for constructing the ABC's. Then, we describe a relatively new ABC's technique of ours and review the corresponding results. This new technique, in our opinion, is currently one of the most promising in the field. It enables one to construct such ABC's that combine the advantages relevant to the two aforementioned classes of existing methods. Our approach is based on application of the difference potentials method attributable to V. S. Ryaben'kii. This approach allows us to obtain highly accurate ABC's in the form of certain (nonlocal) boundary operator equations. The operators involved are analogous to the pseudodifferential boundary projections first introduced by A. P. Calderon and then also studied by R. T. Seeley. The apparatus of the boundary pseudodifferential equations, which has formerly been used mostly in the qualitative theory of integral equations and PDE'S, is now effectively employed for developing numerical methods in the different fields of scientific computing.