Spin torque based non-volatile magnetic random access memories such as spin transfer torque (STT)-MRAM and next generation spin orbit torque (SOT)-MRAM are emerging as key enabling low-power technologies for various applications that are expected to spread over large markets of Internet of Things. Concurrently, the development and performances of spintronic devices built from two-dimensional (2D) van der Waals heterostructures suggest the access to ultracompact multilayer compounds with unprecedented low-power capability for magnetization switching. Here, we provide an overview of the developments and perspectives in merging new classes of materials into advanced memory technology nodes, highlighting the fundamental interface properties and proximity effects as the key drivers for disruptive improvement on the spin torque properties.