Chips: The New Superfood of the Tech Industry

Photo by Brian Kostiuk on Unsplash  

The radio frequency identification (RFID) implant, or “chips”, first discovered in 1998 was initially used for simple things like turning on a light or opening doors. However, nowadays these chips can be used for identification, to grant access in secured places, in credit cards, and can even track health and personal information inside a human’s body through injection. These chips are responsible for such significant growth in innovation of new medical technology, financial security, and in health. It is because of these innovations that the investment of microchips have potential to grow as a growing leader of the technology industry.

Oil, a big part of global trade, has become a centerpiece discussion of corporations, organizations, and treaties all across oil trade. Similar to microchips, it has various uses, from powering cars to houses, oil is an essential part of day-to-day activities. However, with the up and coming natural and electrical energy industry oil has taken the back-burner on its relevance. With the global economy shining a new light on microchips.

Presently, “oil reserves [has] defined geopolitics for the last five decades,” according to Intel CEO Pat Gelsinger. Oil reserves have been a significant part of the economy and have made up a big part of foreign trade and relationships between countries. However, the changes in the environment have resulted in the changes of the value of oil with the presence of electrical energy like in vehicles and power. Not only that, the introduction of inflation in gas also caused the downhill trend of gas in the United States and around the globe. Economic value surrounding oil decreased resulting in an open space for a new and upcoming commodity: chips.

Chips started to be exponentially produced in the United States with “[the U.S.] inves[ting] $20 billion to build two new US chip making facilities, as well as up to $90 billion in new European factories.” (Duffy 23) This multifaceted chip has also been a huge part in the efficiency of the automobile industry. Making most, if not all, of the cars in the industry in the modern era. However, this new industry could be detrimental due to a major chip storage in China. This chip shortage is more than just a minor inconvenience, “it ha[s] caused shortages and shipping delays of everything from desktop computers and iPhones to cars.” (Duffy 23) However, the hope is that the economy can recover from all the lost productivity that resulted from the chip shortage.

The economy has learned a lot from the ongoing industry of chips, the economic field is set for a new industry and hopefully fit the footprint of a departing oil industry. Hopefully, the concerns posed by the political and economic community will give microchip corporations insight on a problem needing to be solved. Microchips give hope to a rapidly growing economy to ultimately increase efficiency and global modernization.