The FHI's mini advent calendar: counting down through the big five existential risks. The third one is a also a novel risk: nanotechnology.
Nanotechnology
Current understanding: low
Most worrying aspect: the good stuff and the bad stuff are the same thing
The potential of nanotechnology is its ability to completely transform and revolutionise manufacturing and materials. The peril of nanotechnology is its ability to completely transform and revolutionise manufacturing and materials. And it’s hard to separate the two. Nanotech manufacturing promises to be extremely disruptive to existing trade arrangements and to the balance of economic power: small organisations could produce as many goods as much as whole countries today, collapsing standard trade relationships and causing sudden unemployment and poverty in places not expecting this.
And in this suddenly unstable world, nanotechnology will also permit the mass production of many new tools of war – from microscopic spy drones to large scale weapons with exotic properties. It will also weaken trust in disarmament agreements, as a completely disarmed country would have the potential to assemble an entire arsenal – say of cruise missiles – in the span of a day or less.
Yes, it's very similar to the problem of designing a macroscopic robot that can out-compete natural predators of the same size. Early attempts will probably fail completely, and then we'll have a few generations of devices that are only superior in some narrow specialty or in controlled environments.
But just as with robots, the design space of nanotech devices is vastly larger than that of biological life. We can easily imagine an industrial ecology of Von Neumann machines that spreads itself across a planet exterminating all large animal life, using technologies that such organisms can't begin to compete with (mass production, nuclear power, steel armor, guns). Similarly, there's a point of maturity at which nanotech systems built with technologies microorganisms can't emulate (centralized computation, digital communication, high-density macroscopic energy sources) become capable of displacing any population of natural life.
So I'd agree that it isn't going to happen by accident in the early stages of nanotech development. But at some point it becomes feasible for governments to design such a weapon, and after that the effort required goes down steadily over time.
One difference is that the reproduction rate, and hence rate of evolution, of micro-organisms is much faster.