Made using millions of neurons and based on the concept of human brain Neuromorphic chips are set to change the world. Neuromorphic chips are expected to be used in service robotics used in logistics to be operated without human guidance. Neuromorphic chips are also being tested with existing technologies to use and enhance operations in aerospace & defense and automobiles. These chips are also being tested to apply in unmanned drones. To identify and store signal patterns emitted from any defined space, the researchers are developing a neuromorphic chip that works on complex pattern matching algorithm.
According to the report by Future Market Insights (FMI), the neuromorphic chip market globally is projected to reach approximately $10,810 million market value by 2026 end. While the market is expected to register 20.7% CAGR between 2016 and 2026. The initiatives are being taken by U.S. government to conduct research and development for neuromorphic chips to replace and enhance non-efficient technologies. Moreover, leading market players are also focusing on collaborations to conduct R&D and develop neuromorphic chips including advanced features.
New technologies to enhance the use of neuromorphic chips in different sectors
IMEC, an international research institute recently demonstrated first self-learning, brain-inspired neuromorphic chip, based on OxRAM technology. The chip has an ability of self-learning and can also compose music. IMEC researchers have combined hardware and software to develop chips that feature human characteristic of self-learning. While consuming minimum power, the chip features intelligent and machine learning characteristics. IMEC is focusing on advancing both hardware and software to build high-performance, low-power and low-cost neuromorphic chips that can be used in various domains like traffic management, energy, personal health, etc. For instance, in personal health segment, a neuromorphic chip that can be integrated into health monitoring sensors will be able to identify heart-rate change and can detect if there are any heart abnormalities.
Researchers are using Python programming to develop new kind of chip that can be used in Artificial Intelligence (AI). A team of researchers is building algorithms using Python programming and a brain simulator known as Nengo. Hence, anyone in future who knows Python will be able to build neuromorphic chips. Interaction with devices will completely change with the development of neuromorphic chip for AI.
Intel is also investing in neuromorphic chip and quantum computing. As these technologies are the future and are also a means to survive and compete in market. With PCs and smartphones getting faster, smaller and energy-efficient, Intel is planning to make smaller and faster chips and decreasing the cost of devices. According to Intel, it is a time to change the computing model in smartphones and PCs. Hence, adopting new model and using neuromorphic chips will make computer use patterns and associations to take better decisions. Various academic institutions are also working on developing neuromorphic chips with advanced features.
The biggest benefit for companies looking forward to developing and using neuromorphic chips is that these chips consume very less power to process AI algorithms. Moreover, Aerospace and defense sector in North America is anticipated to be the most attractive sector in neuromorphic chip market.