Schematic presentation of the most likely events occurring when a photon hits a quantum dot. Situation for a low-energy photon (ultraviolet, visible light, near infrared radiation): I) Charge transfer, where QD is a donor and A is an acceptor molecule, ΔEg is the energy gap of the quantum dot, e− and h+ is an electron-hole pair generated by the absorption of the photon, II) Photosensitization, where the quantum dot is promoted from its ground state (a) to a higher energy excited state (b) and then to a “trap” state (c), from which by TET triplet ground-state oxygen (3O2) is promoted into a highly reactive singlet oxygen (1O2). Vibrational levels are depicted for illustrative purpose. Dashed arrows show non-radiative transitions. Situation for a high-energy photon (X-rays and gamma rays): III) Ejection of a high speed electron from an atom constituting the quantum dot due to the photon energy transfer to the electron (photoelectric ionization effect) or Compton scattering, where the incident photon is scattered continuing its voyage with lower energy until next event, IV) Photon annihilation on a nucleus of an atom and generation of an electron-positron pair. The positron will annihilate with a free electron releasing two 0.51 MeV photons, which will further lose their energy through photoelectric effect or Compton scattering. Electrons generated in the events III and IV will induce secondary high speed electrons as well as Auger electrons. Such electrons that succeed to escape into environment will be captured by an acceptor (water, biomolecule, oxygen, nitrogen oxides) in the vicinity of the quantum dot and induce biomolecular radicals, superoxide, hydroxyl radical, peroxynitrite anion or nitric oxide radical.