In this societal framework, vital sectors like industry and commerce play a crucial role in fostering innovation and economic growth. Society 5.0 (S5) is a concept that aims to create a human-centric society by integrating advanced technologies. Nanotechnology enables the development of lightweight, high-strength materials for a wide range of applications, like nanoelectronic devices (NED), nanomedicine delivery systems (NDS), and nanostructured sensors. The key objectives of using nanotechnology in the S5 are to revolutionize human living standards and address global challenges such as sustainable energy harvesting, environmental conservation and critical healthcare management. In order to address these challenges, it is necessary to use digital technologies, such as Artificial Intelligence (AI), Robotics and Automation (R&A), Internet of Things (IoT), Advanced Manufacturing Systems (AMS), and Biotechnology. The use of nanomaterials is important for the design and development of smart nanosensors. The critical analysis of nanosensor design characteristics can be accomplished by employing predictive modeling and AI algorithms on extensive pre-captured sets of data. It will help to optimize the nanomaterial synthesis design process, material discovery, and its application, leading to more efficient manufacturing processes and resource utilization. AI-powered sensors can detect anomaly detection and forecasting from inputted data. Advanced characterization using AI-powered imaging and spectroscopy techniques provides detailed information about nanomaterial properties. It enhances portability, sensitivity, accuracy and precision in constrained spaces of intelligent systems.