Traditional computers have already seen their prime, and the time has come for the advent of super-fast quantum computers. The need to improve computing power had been a long-sought goal, and with the introduction of AI-powered neuromorphic chips, the time is not too far when we will see tiny computers operating at lightning speeds in the near future.
Such smart computer chips are equipped with the latest architecture that improves the processing speed and computational power by manifolds. Moore’s law says that there are fitted double the number of transistors in an integrated circuit every two years while the price gets halved. Intel has recently announced the launch of its latest neuromorphic chip, namely Loihi, which signals the arrival of the third wave of AI (Artificial Intelligence).
Amid the coronavirus-led market slowdown, the worldwide market for Neuromorphic Chips is currently valued at USD 2.3 billion in 2020 and is projected to soar to a whopping USD 10.4 billion by the year 2027, thereby registering an impressive CAGR of 24.2%. By the end of 2020, the US market size for neuromorphic chips is forecasted to be USD 682.1 million.
What are Neuromorphic Chips?
They are digitally-processed computer chips that constitute a neural network similar to a human brain. Neuromorphic chips constitute millions of neurons and the surrounding synapses that help them learn as they compute. These highly-advanced and disruptive computer chips are fully capable of manipulating data sourced by the sensors.