The electronic structure of magnetic lanthanide atoms and molecules are fascinating from a fundamental perspective. A submerged open 4f electron shell lies beneath a filled or closed 6s-shell. The relativistic nature of the active submerged electrons then gives the relevant features to the magnetic lanthanides. They have a large magnetic moment and a large electronic orbital angular momentum leading to anisotropies, i.e. orientation dependencies, in their mutual interactions. These anisotropies are crucial to proposals to use ultracold lanthanide atoms in spin-based quantum computers and the simulation of orbitronics, phenomena used in magnetic technologies. Anisotropic interactions can also help realize other exotic states of highly-correlated matter.