IBM Fellow Stuart Parkin has won the Technology Academy Finland’s Millenium Technology Prize, an award given every two years to people in recognition of their scientific research work and creation of new technologies.
Parkin was recognized for his 1989 invention of a spin valve that is in nearly every hard drive sold today, the company announced Wednesday.
He also won a $1.4 million prize as part of the award.
“Who would have known that my invention would one day sit at the heart of today’s cloud, social media and data analytics applications, and affect the way people share information and communicate with each other on the Internet, on our mobile devices and across the world,” Parkin said.
Parkin has also invented a new technology that uses magnetic nanowires as high-density data storage devices in an effort to replace many times of data storage and memory devices.