In fact genetically modified organisms (GMOs) represent a new phase of evolution, based not on natural selection, but on intelligent design (ID), the designers being us. That's not to say we, as a species, are intelligent enough to do it right and natural selection will still play a role. However, there's no reason in principle why we couldn't, in the future, with a combination of bionics and ID create new life forms with extraordinary capabilities. Obviously, that capability applies to modifying ourselves as well as other species.
What we have with GMOs is life designing life, with the possible result of a very rapid acceleration in the 'evolution' of many new life forms including ourselves. ID can be aided by enormous increases in information processing power leading to effective artificial intelligence (AI). The combination of AI and ID carries with it enormous potential and not a small amount of danger.