A recent report from Morgan Stanley stated that the brain-computer interface (BCI) industry in the US could reach $400 billion. These AI-powered chips allow users to control computers with their brain activity and are mainly intended to help people with paralysis and serious neurological conditions.
While no product is currently actively used in the market, many companies are investing in this space, including major players like Meta (META) and Apple (AAPL), Neuralink, Tesla (TSLA) CEO Elon Musk, and Precision Neuroscience.
Michael Mager, co-founder and CEO of Precision Neuroscience, 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 are primary candidates for the technology. “That creates an initial market of $2.5 to $3 billion in the coming years,” Mager said.
In the future, the CEO expects that some of the approximately five million people in the US with less severe motor impairments will also use BCIs.
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This post was written by Luke Brooks
