Answer:
Integrated circuits, often known as "chips" are packages that contain multiple components. They offer two obvious advantages.
First, the fact that they contain multiple components that are designed and tested to perform a specific task means that the electronic designer can use them as building blocks within a circuit instead of designing many separate components.
Second, and the more significant advantage is that they can reduce the size of components to allow a far higher component density. Processor and memory chips contain millions of components in a package that is only an inch or two across. The same circuit in discrete components would fill a room. We benefit by seeing tiny products such as cell phones or laptop computers that simply wouldn't exist without integrated circuits.
Integrated circuits also benefit us by using less power than discrete components and by operating at higher frequencies.