However, he said, that kind of device was more than a decade away.
Memristors could also help with a problem that continues to challenge the chip industry, continuing to pack more and more computational power into smaller and smaller spaces.
Currently, chip makers follow a path defined by Moore's Law, which states that the number of transistors it is possible to squeeze in to a chip for a fixed cost doubles every two years.
This is currently achieved by producing transistors with ever smaller feature sizes. Current cutting edge chips have transistors with feature sizes as small as 22 nanometres (22 billionths of a metre).
But this miniaturisation cannot continue forever, experts say.
Memristors offer an alternative path.
"We can continue to make them smaller even past the point where people think that transistors cannot shrink any further," said Dr Williams.
Crucially, said Dr Williams, they can be built using "materials commonly available in any fab [chip fabrication plant]".
Professor James Tour of Rice University in Houston said the memristor's ability to be compatible with existing transistor based technologies was a "critical parameter to permit rapid implementation into present chip manufacturing processes".
Dr Williams said he had already made "crude" prototypes with features as small as 3nm.
"The functional equivalent of Moore's Law could go on for decades after we hit the wall where we can no longer shrink transistors," he said.
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