Advances and Prospects in Understanding London Dispersion Interactions in Molecular Chemistry

London dispersion (LD) interactions are the main contribution of the attractive part of the van der Waals potential. Even though LD effects are the driving force for molecular aggregation and recognition, the role of these omnipresent interactions in structure and reactivity had been largely underappreciated over decades. However, in the recent years considerable efforts have been made to thoroughly study LD interactions and their potential as a chemical design element for structures and catalysis. This was made possible through a fruitful interplay of theory and experiment. This review highlights recent results and advances in utilizing LD interactions as a structural motif to understand and utilize intra‐ and intermolecularly LD‐stabilized systems. Additionally, we focus on the quantification of LD interactions and their fundamental role in chemical reactions.