A significant amount of research on nanomaterials has been conducted in the field of engineering over recent years. Owing to rapid advancements in industries such as electronics, energy, medicine, food, and agriculture, nanotechnology is emerging as a transformative field. This paper reviews disruptive innovations in nanomaterials, including fabrication techniques such as Atomic Layer Deposition (ALD) and Molecular Beam Epitaxy (MBE), as well as the integration of artificial intelligence to accelerate material discovery and design. Despite their potential, nanomaterials face commercialization challenges such as synthesis precision, reproducibility, scalability, toxicity, environmental stability, and end-of-life disposal. Addressing these challenges through interdisciplinary research, sustainable material use, and robust regulatory frameworks is critical to unlocking their full potential. Ultimately, nanomaterials represent a cornerstone for future technological and sustainable development, driving innovation across multiple sectors.