Recent results of the event horizon-scale images of M87* and Sagittarius A* from the Event Horizon Telescope Collaboration show that strong magnetic fields are likely present around the central black holes (BHs) in these sources. Magnetically arrested disks (MADs), the end stage of magnetic flux saturation around BHs, are especially rich in horizon-scale physics due to the presence of powerful jets and magnetic flux eruptions that provide significant feedback on the accretion mechanism. Here, we present an overview of our current knowledge about the magnetic field evolution in numerical simulations of accreting BHs, focusing on jet launching, black hole-interstellar medium feedback, and black hole imaging of MADs. We find that misaligned MAD accretion flows seemingly exhibit jet ejection cycles that could produce flaring states in radio-quiet active galactic nuclei. Further, we show that advances in horizon-scale interferometric telescopes could identify disk misalignment by imaging the disk-jet connection region.