This book highlights the latest advances in algebraic and analysis structures, stochastic structures, and their applications. This book is devoted to mathematical notions, methods, structures, concepts, problems, algorithms, and computational methods important in natural sciences, engineering, and modern technology. In particular, this book features Volume 1: Stochastic processes, mathematical statistics, mathematical analysis, and applications to financial engineering and other applied areas. Volume 2: Mathematical methods and models from noncommutative and non-associative algebras and rings, special functions and q-analysis, topology, dynamical systems, representation theory, operator theory, and functional analysis and applications of algebraic and analysis structures. This book gathers selected, high-quality contributed chapters from several large research communities working on modern analysis, algebra, and stochastic structures and their applications. The chapters cover both theory and applications and are illustrated with a wealth of ideas, theorems, notions, proofs, examples, open problems, and findings on interplay of algebraic structures with other parts of Mathematics and with applications to help readers grasp the material, and to encourage them to develop new mathematical methods and concepts in their future research. Presenting new methods and results, reviews of cutting-edge research, and open problems and directions for future research; the authors serve as a source of inspiration for a broad range of researchers and research students in mathematics, theoretical physics, and other relevant areas of natural science and engineering. The contributions originate from the International Conference "Exploring the World of Mathematical Structures", held in May 2024 at the Division of Mathematics and Physics, Mälardalen University in Västerås, within the framework of the Nordplus Baltic-Nordic network FinEng2023, and also reflect outcomes of ongoing cooperation and exchange between Sweden and several African countries, aimed at advancing research and research education in mathematics and its applications, supported by the Swedish International Development Cooperation Agency (Sida), and collaboration with researchers from Europe, America and Asia during the period 2020–2024.