The new PlayStation 4 has 8 GB of RAM, which is a huge industry-leading number. But it's even crazier when you realize that the Playstation 3 only had 512 MB of RAM—256 for the system and 256 for video. The Xbox 360 has the same.
The new RAM will enable the new "suspend/resume" functionality that allows you to instantaneously start and top playing by hitting the power button. It's also a huge—and maybe unsurprising, given more than six years have passed—upgrade. Makes us really excited for what else all that new memory might enable the console to do.