SIMT is intended to limit instruction fetching overhead, i.e. the latency that comes with memory access, and is used in modern GPUs (such as those of Nvidia and AMD) in combination with 'latency hiding' to enable high-performance execution despite considerable latency in memory-access operations. This is where the processor is oversubscribed with computation tasks, and is able to quickly switch between tasks when it would otherwise have to wait on memory. This strategy is comparable to multithreading in CPUs (not to be confused with multi-core). As with SIMD, another major benefit is the sharing of the control logic by many data lanes, leading to an increase in computational density. One block of control logic can manage N data lanes, instead of replicating the control logic N times.
