Wearable smart devices and visualisation sensors based on alternating current electroluminescence (ACEL) have received considerable attention in recent years. Due to the unique properties of ACEL devices, such as high mechanical strength, adaptability to complex environments, and no need for energy level matching, ACEL is suitable for multifunctional applications and visualisation sensing platforms. This review comprehensively outlines the latest developments in ACEL devices, starting with an analysis of the mechanism, classification, and optimisation strategies of ACEL. It introduces the functional applications of ACEL in multicolour displays, high-durability displays, stretchable and wearable displays, and autonomous function displays. Particularly, it emphasises the research progress of ACEL in sensory displays under interactive conditions such as liquid sensing, environmental factor sensing, kinetic energy sensing, and biosensing. Finally, it forecasts the challenges and new opportunities faced by future functional and interactive ACEL devices in fields such as artificial intelligence, smart robotics, and human-computer interaction.