What chip is 74 14?
I know a little today, I hope I can help you (after so many years, I may forget! ^_^)!

74 14, 6-bit anti-Schmidt trigger, usually the input is analog signal (such as sensor signal), and the rectangular pulse obtained from the sensor often has waveform distortion after transmission. When the capacitance on the transmission line is large, the rising edge of the waveform will obviously slow down; When the transmission line is long and the impedance of the receiving end does not match the impedance of the transmission line, oscillation will occur at the rising and falling edges of the waveform; When other pulse signals are superimposed on rectangular pulse signals through distributed capacitors between wires or public power lines, additional noise will appear on the signals. In any case, the ideal rectangular pulse waveform can be obtained by Schmidt inverse trigger shaping. As long as the positive threshold voltage and negative threshold voltage of Schmidt trigger are set properly, satisfactory shaping effect can be obtained.

To put it simply, the input rectangular pulse signal will be rectified by 74 14 chip to get a better waveform before entering the next circuit.

Disadvantages, please forgive me!

I think it may be the Schmidt trigger.