An application-specific integrated circuit (ASIC) is a type of microchip designed for a specific purpose or application. Synonyms for ASIC include custom integrated circuit, application-specific IC, specialized integrated circuit, and purpose-built IC. These chips are designed to perform a particular function with efficiency and speed, providing a competitive advantage for the product they are used in. ASICs are commonly used in industries such as telecommunications, automotive, aerospace, and medical devices. The design and development of ASICs involve a highly specialized skill set, and their use in devices has revolutionized the technology industry by enabling high-performance and complex systems to be designed at a component level.