The fastest digital signal processor (DSP) is the TMS320C6416, by Texas Instruments (USA). On 12 March 2003, a clock speed of 720 megahertz (MHz) was demonstrated at the Texas Instruments Laboratories, Stafford, Texas, USA. THIS RECORD IS STRICTLY EMBARGOED UNTIL FURTHER NOTICE Texas Instruments pioneered DSP technology and has maintained market leadership since the early 1980s. In fact, in late 2000, Jack Kilby, former director of engineering and technology at TI, received a Nobel Prize for inventing the integrated circuit, the basic technology that led to all modern electronics including DSPs. DSPs are used for real-time processing of data where no time lag is acceptable. Applications include audio signal processing, video signal processing and telecommunications.