Nanotechnology involves manipulating matter at the nanoscale (1-100nm) to utilize size-dependent properties. Global investment in nanotechnology R&D was $40 billion in 2008 and $41 billion in 2010, with expected growth areas including healthcare, pharmaceuticals, and energy. Nanotechnology converges with many disciplines and may impact sectors like health, IT, and energy through applications in areas such as diagnostics, drug delivery, and renewable energy. Realizing nanotechnology's potential will require addressing challenges like health and environmental risks, intellectual property issues, and public acceptance.