Neuromorphic Chips

1. Efficiency: Neuromorphic chips are much faster than current computers at processing sensory data and learning from it, and consume very little power compared to traditional chips. This can potentially spike productivity levels and increase the efficiency of resource allocation.
2. Real time computing: It is modelled after the brain, and functions like it too. If the chips were connected to sensors, it could allow computers to experience the world around them. 
3. Highly applicable: Highly versatile technology that can be applied across many industries.

1. Too intelligent: This may be good or bad, but this technology moves us closer towards cognitive artificial intelligence. Because the nature of this technology mimics human cognitive activity, some argue that they could potentially overtake human jobs.
2. High cost: This technology is extremely expensive to implement, as the costs of removing software and hardware that is currently in use will cost some businesses billions of dollars.
3. Resistance: Since this technology could take away many jobs, it could drive resistance from existing employees. It is understandable that some people will definitely be opposed to new software and hardware that is designed to think and feel like them. 

Medical: Can be used to help track the effectiveness of treatments and identify health problems in early stages of sickness

Meteorology: Computers that draw on wind patterns, tides, and other indicators can predict tsunamis more accurately with the help of the chips.

Sensory Enhancement: These chips could even lead to glasses for the visually impaired because the chips can use visual and auditory sensors to recognize objects and provide audio cues.

Finance: Neuromorphic chips can also aid in financial fraud prediction as it requires complex knowledge and real-time pattern recognition.

Defence: Even the military can benefit as the chips can recognize targets without the bulky data transfers and computers needed to process imagery.

What does the future hold?

• The process of businesses adopting neuromorphic chips fully is a long one. There has not been enough research and experimentation with neuromorphic chips, and it will require many years before this technology achieves the stated purpose.
• The extensive costs of implementation may deter companies from using neuromorphic chips. It is a risky investment; one that many companies and organizations may not be willing to take.