This article reviews significant advances in networked signal and information processing (SIP), which have enabled in the last 25 years extending decision making and inference, optimization, control, and learning to the increasingly ubiquitous environments of distributed agents. As these interacting agents cooperate, new collective behaviors emerge from local decisions and actions. Moreover, and significantly, theory and applications show that networked agents, through cooperation and sharing, are able to match the performance of cloud or federated solutions while offering the potential for improved privacy, increased resilience, and conserved resources. A longer version of this manuscript, with examples and illustrative applications, is available at https://arxiv.org/abs/2210.13767 .