In this article we describe electro-optical properties of recently discovered ferroelectric particles/liquid crystal colloids. We show that the presence of ferroelectric particles in a liquid crystal changes its birefringence and dielectric anisotropy. In contrast to the traditional time consuming and expensive chemical synthetic methods, this method to create liquid crystals with enhanced properties is relatively simple and has a great potential. We also demonstrate the performance of these new materials in various devices, including displays, light modulators, and beam steering devices.