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In the first part of this talk I am going to start by exploring several key challenges occurring in networks dynamics modelling including epidemics, opinion formation, machine learning, and economics. It will be shown, which elements are needed to make the observed phenomena mathematically rigorous. In the second part of the talk, two of these elements will be presented: (I) deriving heterogeneous mean-field equations via graphon limits and (II) bifurcation theory to explain codimension-two explosive transition effects.