Will a turbo make my car faster?

Could you elaborate on the potential impact of installing a turbocharger on a vehicle's speed? I'm curious to understand if this upgrade truly results in increased velocity, considering the technical complexities involved. Does the turbocharger simply enhance the engine's efficiency, or does it actually provide a significant boost to acceleration and top speed? Also, are there any potential downsides to this modification, such as increased fuel consumption or decreased reliability? I'd appreciate a concise yet comprehensive explanation to help me make an informed decision.