Radiative corrections in the LHC and ILC era

In this talk I will present a brief review of the role of radiative corrections in present and future collider experiments with emphasis on the CERN Large Hadron Collider (LHC). After a general discussion of the importance, typical features and status of higher-order calculations I will discuss their impact on the example of Higgs boson production in association with heavy quarks and precisions studies of W and Z bosons at the LHC.