This is the most advanced search form to speed up your search. It have the possibility to automate/define a saved day to day search in order to help you do your work more effective. To ensure that you always know the filters in use, they are placed in the regular search frame.
If you have multiple active filters they will all be visible in the search frame. By choosing edit, you can change/enhance/refine the search filter as you choose.

Note! Currently they are not shared between the applications so a Smart search created in one application will only be visible there.

If we should use certain small/medium size stockfiles in a project for the next few weeks I would prefer to automate my search and save it to avoid misspelling and save time.
Let us create a smart search. Click "Add smart search" to create an automated search.

Match: Select all of the following rules. This means that all of the rules must comply in order to list the selected mediafiles. The alternative any does not work as "strict" as all since only one match will return a positive. 
Click in the drop down menu "ActiveShareListId" and select the metadata to search in. I selected Category and clicked on the + sign to make it active.
Now I have selected Category and I want it to match (Is equal) to Stockshots. Then I go up an click in the drop down menu "ActiveShareListId" again. This time I select Title and press the + sign. I choose does not contain large since I want to avoid the large files (Note: the search is case sensitive).
Finally,  I click in the drop down menu "ActiveShareListId" again to add another Title filter. This time I want it to contain the word Stock.

I could further enhance my search and specify a time frame to search within.

Then I can choose to make my search:
Private = only for me
Make visible for group(s) =  I select from the available workgroups defined in my organization
Make public = Everyone in the company can see and use the search.

And finally I name my search "Medium size stockfiles" and click on Save.

The search is now visible in the Smart search folder as Medium size sto......
You can now click on the text "Medium size sto....." and the programmed search will appear in the search window. If you want it to be the default search each time you log in you must make it active. Clicking on "Edit" will enable you to make changes to the search or delete it. 

The difference with making Smart search vs. Project is the following:

You add the files manually you need to your project and they will remain static. If you need to add or remove an asset you must do it manually.

Smart search:
In contrast to Project, where you add the assets manually and save the asset-list for later use, you now add the search criteria in Smart search and save the search for later use. When you select the smart search next time, it will initiate a new search and list the assets matching your search criteria. 
This is very convenient when working with colleagues in a project. Let us say you have agreed to use a metadata field "jungle promo" for a project. When someone adds new material to the project and use the metadata "jungle promo", you and everybody using the smart search will automatically see the new material and secure that you all work with the correct material.

You may also find it interesting to learn more about Projects. You can read more about it from the "related articles" top right in this document