When magnets are fashioned into nanoscale elements, they exhibit a wide variety of phenomena replete with rich physics and the lure of tantalizing applications. In this topical review, we discuss some of these phenomena, especially those that have come to light recently, and highlight their potential applications. We emphasize what drives a phenomenon, what undergirds the dynamics of the system that exhibits the phenomenon, how the dynamics can be manipulated, and what specific features can be harnessed for technological advances. For the sake of balance, we point out both advantages and shortcomings of nanomagnet based devices and systems predicated on the phenomena we discuss. Where possible, we chart out paths for future investigations that can shed new light on an intriguing phenomenon and/or facilitate both traditional and non-traditional applications.
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