Coherent detection and digital signal processing techniques have driven a remarkable development in optical transport technologies, enabling channels at 100 Gb/s to be transmitted over thousands of kilometers. Future optical communications systems will achieve even higher data rates (> Gb/s) through the deployment of superchannels, a designation for subcarrier multiplexing in the optical domain. In addition, a software-defined configuration of modulation format, transmission rate and coding scheme will enable advanced features such as automatic bandwidth provisioning and optimized spectrum allocation. However, compared with the wireless environment, optical systems are still very primitive in terms of intelligence, because their installation and operation require highly skilled manpower. The solution to this problem are adaptive optical transceivers, able to sense the channel conditions and to adapt their operation parameters to extend reach and reduce power consumption. In this paper we review a set of enabling concepts and algorithms of an adaptive optical transceiver, and discuss the challenges for its successful implementation.