I would imagine that this translates to lower power consumption when doing the same tasks. Something that would require the CPU in a current phone to work hard for a couple of seconds, like calculating possible routes in Google Maps, being able to be completed in less than one would make a difference. Especially if we do this kinds of tasks thousands of times throughout the day.

Sadly this will probably mean some apps will be able to steal more CPU time for doing telemetry and serving ads because the user won't notice a difference in response time and performance.