IBM has made germanium-antimony-tellurium phase change memory. The advantage of the new material, according to the scientists, is that it can be used to create switches over 500 times faster than today's flash chips. Moreover, the prototype switch developed by the scientists is just 3 nanometers high by 20 nanometers wide, offering the promise that the technology can be shrunk to smaller dimensions than could be attained by flash manufacturers.
The meory uses half the power of flash and could have significant roll outs between 2007 (from Intel) and 2015 (for IBM)
Stan Ovshinsky's invented phase change memory which is also called ovonics unified memory. He also has invented the Ovonic Quantum Control, a unique proprietary all thin-film transistory replacement control device. It is based on new physics and has multifunctionality beyond that of transistors.