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Semiconductor chips are driving innovation across technology, automotive, telecom, healthcare, and power industries, a new report said on Wednesday.

According to a leading data and analytics company GlobalData, these chips, particularly those that power artificial intelligence (AI) capabilities, are fundamentally reshaping industries, ushering in a new era of innovation and efficiency gains.

"The proliferation of generative AI (GenAI) and the ensuing enterprise has ignited a fierce competition among chipmakers to develop semiconductor solutions that can handle the rigorous computational requirements of AI applications," said Kiran Raj, Practice Head of Disruptive Tech at GlobalData.

The report examined more than 50 real-world applications of advanced chips across multiple industries, including automotive, healthcare, power, technology, and telecom.

According to Saurabh Daga, Associate Project Manager for Disruptive Tech at GlobalData, semiconductor chips stand as the backbone of transformation in multiple industries.

"They empower autonomous vehicles to navigate complex environments and revolutionize healthcare by decoding intricate medical data for precise diagnoses," Daga said.

"In essence, these chips not only optimise processes but also redefine standards of efficiency and accuracy, highlighting their key role in propelling us into the era of AI-driven innovation," he added.

The report mentioned that chip maker Intel has partnered with EV brand Zeekr to introduce a new family of AI-enhanced automotive system-on-chips (SOCs), which will enable various in-vehicle AI applications such as driver and passenger monitoring.

"Despite integration challenges and supply chain issues, semiconductor chips hold immense potential in propelling diverse industries towards an intelligent, efficient, and innovative future," Daga said.