Multifunctional, complex oxides capable of exhibiting highly-coupled electrical, mechanical, thermal, and magnetic susceptibilities have been pursued to address a range of salient technological challenges. Today, efforts are focused on addressing the pressing needs of a range of applications and identifying, understanding, and controlling materials with the potential for enhanced or novel responses. In this prospective, we highlight important developments in theoretical and computational techniques, materials synthesis, and characterization techniques. We explore how these new approaches could revolutionize our ability to discover, probe, and engineer these materials and provide a context for new arenas where these materials might make an impact.