Nanotechnology, defined as the manipulation of matter at dimensions between 1 and 100 nanometers, has emerged as a transformative discipline with applications across science, engineering, and industry. The unique physicochemical properties of nanomaterials—including high surface-to-volume ratios, quantum effects, and tunable electrical and optical characteristics—have enabled breakthroughs in medicine, energy, environment, electronics, agriculture, and consumer products. In healthcare, nanocarriers and biosensors enhance targeted drug delivery, diagnostics, and regenerative medicine. In energy systems, nanostructures improve solar cells, batteries, and fuel cells while supporting environmental remediation through pollutant removal. Nanoelectronics and quantum dots have revolutionized information technology, while nanosensors and smart packaging contribute to agriculture and food security. Industrial applications range from textiles and cosmetics to advanced composites in aerospace and automotive sectors. Despite these advances, challenges persist, including toxicity, environmental accumulation, regulatory gaps, and ethical concerns. Future progress lies in sustainable, green nanotechnology and the integration of artificial intelligence to design scalable and efficient systems. This paper highlights both the promise and the challenges of nanotechnology, offering insights into its role in driving sustainable development and technological innovation.