Intel and Micron revealed a new memory chip that they say will “revolutionize” computing devices, services and applications. On Tuesday, the two firms unveiled their new 3D XPoint technology, which they referred to as a “major breakthrough.”

Intel Corporation, Micron Introduce Revolutionary Memory Chip

A revolutionary technology from Intel, Micron

Intel and Micron noted that chips based on this technology are already in production, and will be the first new kind of memory chips to be introduced in the market since NAND flash in 1989. With the advent of connected devices ranging from fitness bands and smartphones to appliances, power meters and many more, the need to store and review new data is increasing day by day. The advantage o non-volatile memory is it can save data even with the power off.

Describing the new memory chip in a press release, Mark Adams, Micron Technology president, said “This new class of non-volatile memory is a revolutionary technology that allows for quick access to enormous data sets and enables entirely new applications.”

Previously, NAND has been the most popular non-volatile memory used in the computers. But this new chip technology is 1000 times faster and 10 times denser than NAND chips, the companies said in the press release.

Intel and Micron’s 3D XPoint technology will act as a supplement to the current NAND Flash and DRAM technologies. It is expected that the price of the technology will initially be high. The new memory is expected to play a greater role in enhancing the performance of both mobile and desktop devices.

Useful for both, professional and personal use

Rob Crooke, Senior Vice President at Intel, said the industry has been looking for methods to lower the processor-data lag time to allow for faster analysis, adding this new chip technology will help in attaining such goals and revolutionary changes to “performance and storage solutions.”

The new memory will help business owners to more easily identify fraud patterns in financial transactions. In addition, it will help health-care professionals with real-time data analysis, tracking of diseases and much more. Apart from professional uses, the new technology from Intel and Micron could also help in faster social media interactions and making video games more realistic.

A final test run of the 3D XPoint will be conducted by the companies later this year. As of now, it is uncertain whether Apple, which is known for delivering cutting-edge technology to its customers, will adopt the new technology when it is launched.