Recent advancements in photonic bound states in the continuum (BICs) have opened up exciting new possibilities for the design of optoelectronic devices with improved performance. In this perspective article, we provide an overview of recent progress in photonic BICs based on metamaterials and photonic crystals, focusing on both the underlying physics and their practical applications. The first part of this article introduces 2 different interpretations of BICs, based on far-field interference of multipoles and near-field analysis of topological charges. We then discuss recent research on manipulating the far-field radiation properties of BICs through engineering topological charges. The second part of the article summarizes recent developments in the applications of BICs, including chiral light and vortex beam generation, nonlinear optical frequency conversion, sensors, and nanolasers. Finally, we conclude with a discussion of the potential of photonic BICs to advance terahertz applications in areas such as generation and detection, modulation, sensing, and isolation. We believe that continued research in this area will lead to exciting new advancements in optoelectronics, particularly in the field of terahertz devices.