Future Nanotechnology Scope

Visions of self-replicating nanomachines that could devour the Earth in a "grey goo" are probably wide of the mark, but "radical nanotechnology" could still deliver great benefits to society. The question is how best to achieve this goal

Today nanotechnology is still in a formative phase--not unlike the condition of computer science in the 1960s or biotechnology in the 1980s. Yet it is maturing rapidly. Between 1997 and 2005, investment in nanotech research and development by governments around the world soared from $432 million to about $4.1 billion, and corresponding industry investment exceeded that of governments by 2005. By 2015, products incorporating nanotech will contribute approximately $1 trillion to the global economy. About two million workers will be employed in nanotech industries, and three times that many will have supporting jobs

Over time, therefore, nanotechnology should benefit every industrial sector and health care field. It should also help the environment through more efficient use of resources and better methods of pollution control. Nanotech does, however, pose new challenges to risk governance as well. Internationally, more needs to be done to collect the scientific information needed to resolve the ambiguities and to install the proper regulatory oversight. Helping the public to perceive nanotech soberly in a big picture that retains human values and quality of life will also be essential for this powerful new discipline to live up to its astonishing potential.