Rosetta 2 should mean that most existing Mac apps will run on the new M1 Macs, although they may take a few minutes to start up the first time you run them on the new machine as Rosetta will translate the code so that they can run. Other apps are running via Rosetta 2 - Apple's tool for translating code intended for Intel processors so that the M1 chip understands it.
Where the developer has released a M1-ready beta version we will mention that too. In this article we'll run through all the apps that are ready for the M1 chip - which now includes Photoshop and Parallels - which brings the ARM version of Windows. If you're lucky enough to be using a new M1 Mac, or considering buying one, you'll be wondering if the apps you need to use will work on it - especially since Intel publicly criticised the range of software that's compatible with the M1 processor.