A fast optical switch can be fabricated/constructed, when a vanadium dioxide (VO2) and a two-dimensional (2-D) material is activated by either an electrical pulse (a voltage pulse or a current pulse) or a light pulse just to induce an insulator-to-metal phase transition (IMT) in vanadium dioxide. The applications of such a fast optical switch for an on-demand optical add-drop subsystem, integrating with (a) a light slowing/light stopping component (based on metamaterials and/or nanoplasmonic structures) and (b) with or without a wavelength converter are also described.