“First and second order Ferromagnetic quantum phase transitions” G. Lonzarich Cavendish Laboratory Cambridge, UK 
Border of Itinerant Electron Ferromagnetism Great diversity of new physics develops on the brink of ferromagnetic instability. Experiments over the past few years have led to the discovery that : 

These new discoveries raise many fundamental questions about the strange metal near a FM quantum critical point. In particular:  Does the elementaryexcitation
concept still hold ?
 What is the physics of a dissipative interaction field and fermion field?  Do magnetic droplets form near the tricritical point (instantons)?  Is the GinzburgLandau model still applicable and what happens to nonanalytic terms (m^{4} ln m and q^{2} ln q terms in 3D?  Are there new instabilities at a quantum critical end point? branching?  Is there anisotropic particlehole pairing? 
There are many possible applications of these new phenomena. One exciting prospect currently under investigation is the development of magnetic cooling (Cambridge Magnetic Refrigeration, CamFridge)? 