Colloidal nanocrystals of semiconductor quantum dots (QDs) are gaining prominence among the optoelectronic materials in the photonics industry. Among their many applications, their use in artificial lighting and displays has attracted special attention thanks to their high efficiency and narrow emission band, enabling spectral purity and fine tunability. By employing QDs in color-conversion LEDs, it is possible to simultaneously accomplish successful color rendition of the illuminated objects together with a good spectral overlap between the emission spectrum of the device and the sensitivity of the human eye, in addition to a warm white color, in contrast to other conventional sources such as incandescent and fluorescent lamps, and phosphor-based LEDs, which cannot achieve all of these properties at the same time. In this review, we summarize the color science of QDs for lighting and displays, and present the recent developments in QD-integrated LEDs and display research. First, we start with a general introduction to color science, photometry, and radiometry. After presenting an overview of QDs, we continue with the spectral designs of QD-integrated white LEDs that have led to efficient lighting for indoor and outdoor applications. Subsequently, we discuss QD color-conversion LEDs and displays as proof-of-concept applications - a new paradigm in artificial lighting and displays. Finally, we conclude with a summary of research opportunities and challenges along with a future outlook.