The quantum anomalous Hall effect refers to the quantization of Hall effect in the absence of applied magnetic field. The quantum anomalous Hall effect is of topological nature and well suited for field-free resistance metrology and low-power information processing utilizing dissipationless chiral edge transport. In this Perspective, we provide an overview of the recent achievements as well as the materials challenges and opportunities, pertaining to engineering intrinsic/interfacial magnetic coupling, that are expected to propel future development of the field.