Anion exchange membrane fuel cells (AEMFCs) are considered one of the most promising and efficient hydrogen conversion technologies due to their ability to use cost-effective materials. However, AEMFCs are still in an early stage of development and the lack of suitable anion exchange membranes (AEMs) is one major obstacle. In this review, we highlight three major challenges in AEMs development and discuss recent scientific advancements that address these challenges. We identify current trends and provide a perspective on future development of AEMs.