Neodymium and its compounds have a number of important uses. One is in a kind of laser known as a neodymium yttrium aluminum garnet (Nd:YAG) laser. A laser is a device for producing very bright and focused light of a single color. The Nd:YAG laser is used for treating bronchial cancer and certain eye disorders. The bronchi are air tubes that Lead into the lungs. 

Another important use of neodymium is in the manufacture of very strong magnets. The neodymium-iron-boron (NIB) magnet is one of the strongest magnets known. It is so strong it has to be handled with special care. Two NIB magnets can attract each other so strongly that they can smash into each other and shatter. An NIB magnet is inexpensive. An NIB magnet an inch in diameter and a quarter inch thick costs less than $10. Such magnets are used in stereo audio speakers. 

Neodymium is also used in various optical (light) devices. For example, the General Electric Company makes a lightbulb called an "Enrich" bulb. The glass of the bulb contains a small amount of neodymium that filters out yellowish and greenish colors from the filament. The filament is the metal wire that is heated and gives off light. The light produced by the Enrich bulb is a very bright white light. 

One of the oldest uses of neodymium is in coloring glass. The addition of a small amount of the element to glass gives it a greenish color. Some Tiffany lamp shades contain neodymium. 

Two neodymium-iron-boron (NIB) magnets can attract each other so strongly that they can smash into each other and shatter. neodymium magnet