Fluorescent quantum dots (QDs) are semiconducting nanocrystals (NCs) that find numerous applications in areas, such as bio labelling, sensors, lasers, light emitting diodes and medicine. Core–shell quantum dots were developed to improve the photoluminescence efficiency of single quantum dots. Capping their surface with organic ligands as well as their extraction into aqueous media enables their use in sensing applications. The current review highlights the importance and applications of core shell quantum dots as well as their surface modifications and applications in the field of medicine and as sensors for chemical and biochemical analysis.