I believe the argument is that you can also encode information in the time domain.
If we just look at spikes as a different numerical representation, then they are clearly inferior. For example, consider that encoding the number 7 will require seven consecutive pulses on a single spiking line. Encoding the number in binary will require one pulse on three parallel lines.
Binary encoding wins 7x in speed and 7/3=2.333x in power efficiency...
On the other hand, if we assume that we are able to encode information in the gaps between pulses, then things quickly change.
If we just look at spikes as a different numerical representation, then they are clearly inferior. For example, consider that encoding the number 7 will require seven consecutive pulses on a single spiking line. Encoding the number in binary will require one pulse on three parallel lines.
Binary encoding wins 7x in speed and 7/3=2.333x in power efficiency...
On the other hand, if we assume that we are able to encode information in the gaps between pulses, then things quickly change.