This is a common 74 series Logic IC. I have created it for future purposes and all those who are creating minecraft computers, CPU-s, ALU-s or anything related to digital technology. This is my first project and I will continue to contribute.
Now on the important part, the 7408 IC has four (thus called quad) AND gates with two inputs (Input A and Input B) and one output. For those who don't understand what it works, it is basically doing AND logic function, meaning only when both input A and input B are in 1 (in our case when the power is on in the specific input) output will also become 1.
It was supposed to have 14 input/output gates but we don't really use ground (mass) inhere so you won't be needing it. However 3x4=12 but you can notice that is actually has 13 gates. The 13th gate is actually the power input. You can switch IC on/off with that gate as sometimes you won't be needing it. If you don't need it just replace the switch with redstone torch and close the wall.