A recent Morgan Stanley report stated that the brain-computer interface (BCI) industry could reach $400B in the US. These AI-fueled chips allow users to control computers with their brain activity and are primarily meant to help people with paralysis and severe neurological disorders.
While no product is actively being used in the market today, many companies are investing in the space, including big players like Meta (META) and Apple (AAPL), Tesla (TSLA) CEO Elon Musk’s Neuralink, and Precision Neuroscience.
Precision Neuroscience co-founder and CEO Michael Mager joined Yahoo Finance Senior Reporter Yasmin Khorram at the Yahoo Finance Invest conference to explain how he expects the industry to expand in the coming years.
Mager says there are about 400,000 people in the US who are severely paralyzed and primary candidates for the technology. “That creates a $2.5 to $3 billion initial market in the next few years,” according to Mager.
In the future, the CEO expects a portion of the roughly five million people in the US with less severe motor disabilities to use BCIs as well.
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This post was written by Luke Brooks