Nanotechnology involves manipulating materials at the nanoscale and has many applications in medicine. It can be used to more precisely deliver drugs to specific locations in the body using nanobots or nanoparticles, helping improve treatment effectiveness and reduce side effects. Disease diagnosis and prevention may also be enhanced through tools like quantum dots that can identify cancer cells and nanobots that remove fat deposits or "cook" tumors. However, there are also environmental and health risks like nanoparticles potentially damaging lungs or organs if inhaled or entering the bloodstream that require further research. Overall, while still developing, nanomedicine shows promise for new cures and saving lives if risks are adequately addressed.