With 1 GHz CPU, 512MB of RAM and 4GB of storage CHIP is capable of running LibreOffice suite of applications for office work, Audacity digital audio workstation for audio editing, CAD for drawing diagrams and playing a wide array of games.
CHIP is not yet available and can only be pre-ordered. This also means that any advantages the product has should be taken with a grain of salt since they don't come from unbiased third-party sources.