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This paper, that will appear in the Notices of the AMS, begins with a brief historical account of the beginnings of fractional calculus and the crucial roles played by Leibniz and Fourier. Fourier’s definition of fractional derivative is introduced and unpacked by using the modern technique known as the method of semigroups. Recent advances on the theory of fractional derivatives are presented. Furthermore, we address some questions that have been raised by some in the scientific community. Finally, we present three different applications: population growth with memory, viscoleastic materials and anomalous diffusions.

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