The photoelectrochemical photocurrent switching (PEPS) effect, in the beginning regarded as a scientific curiosity, has become a field of extensive study for numerous research groups all over the world. This unique effect can be utilized for nanoscale switching and information processing, furthermore, is can serve as an interface between molecular information processing and macroscopic electronics. This review summarizes recent efforts in understanding photocurrent switching effects and their application for the construction of nanoscale switches and logic devices. Furthermore, some future prospects concerning the development of electronic/optoelectronic devices based on photoactive semiconducting hybrid materials are presented.