@bobdvb: It's unclear because they haven't said much about the lo0gic part of the device.
Many researchers including some at Stanford and Berkeley have talked about kinds of smart memories before. HP's unique angle is using its memristor as the memory.
What are the engineering and design challenges in creating successful IoT devices? These devices are usually small, resource-constrained electronics designed to sense, collect, send, and/or interpret data. Some of the devices need to be smart enough to act upon data in real time, 24/7. Specifically the guests will discuss sensors, security, and lessons from IoT deployments.