Ferrofluids are suspensions of magnetic nanoparticles that have the attractive feature of being controlled by applied magnetic fields. Ferrofluids have been studied for decades in an ever growing number of applications that take advantage of their response to applied magnetic fields. Here, we provide a summary of recent advances in established and emerging applications of ferrofluids, including applications in optics, sensors, actuators, seals, lubrication, and static/dynamic magnetically driven assembly of structures.