According to a report made by Ivan Schuller of the University of California, San Diego, "A highly sensitive magnetic material that could transform computer hard drives and energy storage devices has been discovered." The new material's magnetism can be adjusted via voltage, without applying a magnetic field. This is the only material known to man in which this is possible. Source: http://bbc.com/news/science-environment-26435809
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Professor Shuller’s material operates within a narrow range of temperatures. When the oxide is cool, it operates as insulator. When it’s hot, it works as a metal. At a sweet spot of about 20 degrees Kelvin above room temperature, the material becomes a strange new substance that can create a five-fold change in coercivity, or “magnetic resistance“.
While exact applications for the material are yet unknown, Schuller and his colleagues predict it could be useful in data storage and electricity networks. Anything from computer hard drives to electrical transformers could benefit from the technology, which stands to make devices more efficient, powerful, and easier to manipulate.
Source: http://inhabitat.com/newly-developed-magnetic-material-could-revolutionize-electronics/