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With the unprecedented precision that the LHC and future lepton colliders will provide, stringent tests of the Standard Model require theory predictions with matching accuracy. In this seminar, I will introduce the publicly available Monte Carlo event generator NNLOJET and some of its recent applications in higher-order QCD corrections. First, I will review the current status of precision QCD phenomenology, with a focus on the development of the Antenna Subtraction method. After that, I plan to present some of the latest applications of NNLOJET to hadron and lepton colliders, highlighting the advantages and limitations of fixed-order predictions. Based on this, I will share my perspective on the road ahead.