Electronic properties of materials can be directly influenced via light absorption in under a femtosecond (10-15 seconds), which is regarded as the limit of the maximum achievable speed of electronic circuits. In contrast, the magnetic moment of matter has only been able to be influenced up to now by a light and magnetism-linked process and roundabout way by means of magnetic fields, which is why magnetic switching takes that much longer and at least several hundred femtoseconds.
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Source: Phys.org