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ASIC: Application-specific integrated circuit. Rather than use a fully-functional computerized chip with a large command set which occupies a lot of memory, and which takes more cycles to do a task, it is sometimes more practical to manufacture a custom chip, with a limited command set, which is streamlined to do a few tasks, and is faster at doing them.
Nanotechnology: Microscopic machines. From what I hear the tiny mechanical devices can be manufactured, however progress still has long way to go before they can be made to perform micro-surgery, clean plaque out of our bloodstream, and kill cancer cells one by one until none are left.