Organic semiconductors (OSCs) have already been shown to have great potential to play an important role in the future of clean energy generation (organic solar cells) and provide energy efficient lighting (organic light-emitting diodes, OLED). Prior research has found that the light-emission efficiency of OLED is severely limited by the magnetic state (technically the spin-configuration) of the light-emission process. In this thesis, we work on the processes using external magnetic fields that can overcome these magnetic limitations. A major focus of this research is to enhance the performance of OLED, while at the same time to unravel the scientific mechanisms by which magnetic fields act on OSCs devices. Thermally activated delayed fluorescence (TADF) is a next-generation OLED emission technology which enables nearly 100% light-emission efficiency without using heavy precious metals. TADF characteristics depend on the probability of reverse intersystem crossing (RISC) from the triplet excited states (T1) to singlet excited states (S1). The conversion (T1 to S1) process depends strongly on spin dynamics, thus we predict a dramatic magnetic field effects (MFEs) in such TADF OLED devices. In subsequent experiments we observed that changes in TADF devices due to various forms of electrical stress can lead to enormous increases in magnetic field effects (MFEs) on the current (> 1400%) and electroluminescence (> 4000%). Our work provides a flexible and inexpensive pathway towards magnetic functionality and field sensitivity in current organic devices. Such OLED pave the way for novel magnetic sensitive OSCs devices with integrated optical, electronic and magnetic characteristics. Organic magnetoresistance (OMAR) has been observed to alter the current and efficiency of OLED without any ferromagnetic components. Here we utilizes slight alterations to the device properties, the addition of a radical-doped functional layer, in which the spin-relaxing effects of localized nuclear spins and electronic spins interfere, to address the assumption about the importance of the hyperfine interaction and to attempt to differentiate between the different models for OMAR. A feature where the magnitude of OMAR exhibits a plateau over a wide range of doping fraction was observed at all temperatures investigated. This phenomenon is well explained by a theory in which a single dopant spin strongly interacts, by exchange, with one of the bottleneck sites. A similar can be used to explain the efficiency increases observed in organic solar cells for certain doping fractions.