Intel, Micron say they can crunch data 1,000 times faster

Intel Corp. and Micron Technology Inc. say they have begun production on a new memory technology that is 1,000 times faster than today's chips.

They claim the 3D XPoint technology is a new category of memory and will change how computers access large amounts of data.

It will be especially helpful in crunching the massive amounts of data being collected by connected devices and digital technologies, Intel said in a press release Tuesday.

"One of the most significant hurdles in modern computing is the time it takes the processor to reach data on long-term storage," Mark Adams, Micron's president, said in the release. "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."

Non-volatile memory is data that remains stored when a computer is turned off, such as data on hard drives or memory cards, as opposed to the computer's RAM, which is "volatile."

Developed through a decade of research, the 3D XPoint technology allows more data to be stored close to the processor and accessed at speeds previously impossible for non-volatile storage, Intel said.

For the PC owner, it could mean faster interaction with social media and more immersive gaming experiences.

Intel said  retailers may use 3D XPoint technology to more quickly detect and identify fraud, while healthcare researchers could accelerate complex tasks such as genetic analysis and disease tracking.

The companies plan to send samples of the product to customers later this year and expect full production to ramp up next year.