Don't be fooled by the chip appearance. It's a packaged resistor module with only one resistor connected.
When connected up to your air inlet temperature sensor, it'll appear to the ECU that the air is colder than it is. Therefore it'll squirt in more fuel. On a petrol engine. Of course it'll run rich and foul up the plugs as well as hammering fuel consumption.
On a diesel, it connects to the MAF which will contain an air temperature sensor and will appear as if more dense air is going into the engine than really is. Also resulting in more fuel. And smoke.
How exactly one resistor value will fit all types of vehicle, AIT or MAF is however beyond me. Definitely one to avoid.
On the other hand though, similar to Tony's super awesome magnetic ion aligner, I've got a product very similar. But it'll get up to 25% performance increase and a similar decrease in fuel consumption. Only £9 including shipping. Contact me for the small print.