I used to work on an imaging team at a big insurance company and we were required to store our images with a very particular lossless compression in a TIF file specifically because the law does not hold lossy compression as reliable.

But, regarding jessepollard's other statements:

"The place you don't want errors is in the instruction stream."

That's not where the errors are. They're in the calculation results from the non-errored instructions. And then, only in specific types of calculations.

"Images already have errors generated by every lossy compression algorithm."

True, but also irrelevant.

"Unfortunately, these same errors prevent it from being reliable in court."

True.

"Also doesn't work well for facial recognition"

False. Facial recognition is already a fuzzy logic affair. Actually, facial recognition is a perfect example of inexactness in computing and would be a great application for these chips.

Read this article:

A few errors could be key to super-efficient computer chips