Dynamic routing allows routes to change dynamically according to network changes. Routing protocols are used to find networks and update router tables. Some common routing protocols discussed are RIP, IGRP, OSPF, IS-IS, and EIGRP. Advantages of dynamic routing include not needing to know destination networks, advertising directly connected networks, dynamically updating topology changes, reduced administration, and suitability for large organizations. Disadvantages include initial complexity, less security from broadcast updates, and requiring additional resources.