The magnetic field in an inductor helps to stabilize the current as it travels along a circuit when you need a very smooth current for something like a power supply.
The magnetic field of an inductor stabilizes the current as it moves through the circuit, which is why inductors are employed to smooth the current.
In switched-mode power systems, inductors are frequently utilized as energy storage components to generate current. The circuit receives energy from the inductor, which stores energy, to maintain current flow during "off" switching periods, permitting topographies where the output voltage is higher than the input voltage.