'Brain Chip Implant' Musk's Challenge... US Market Expected to Reach 540 Trillion Won

Neuralink's Brain Implant Chip Designated as an 'Innovative Device'

As competition intensifies in the field of brain-computer interface (BCI) technology that connects the brain and computers, there are forecasts that devices applying this technology will be commercialized in the near future.

On the 8th, Yonhap News cited an analysis by Morgan Stanley in the 'Global Information and Communication Technology (ICT) Weekly Trend Report' by the National IT Industry Promotion Agency (NIPA). The report projected that the BCI technology market in the United States is approximately 540 trillion won (400 billion dollars) in scale. It also predicted that within the next five years, devices that have completed clinical trials will begin the process of full-scale commercialization.

Elon Musk (right), founder of SpaceX. Photo by Yonhap News

Neuralink, a U.S. neurotechnology startup founded by Tesla CEO Elon Musk, is considered a leading company in the invasive BCI field, which involves implanting computer chips directly into the brain for control. Last month, Neuralink announced plans to conduct brain chip implantation trials at Toronto Western Hospital after receiving clinical trial approval from Canadian regulatory authorities for the first time outside the United States, drawing attention to brain-computer interface technology.

The report stated, “The clinical trial approval by Health Canada is a recognition of Neuralink’s BCI technology’s potential to improve patients’ quality of life and demonstrates growing global interest in BCI technology.” The clinical trials to be conducted in Canada will focus on evaluating the safety and initial functionality of Neuralink’s implantable device, designed to enable patients with complete paralysis to control external devices using only their thoughts.

According to the report, the U.S. Food and Drug Administration (FDA) designated Neuralink’s brain implant chip as a 'breakthrough device' and regarded it as a groundbreaking advancement in the field of neuroscience.

Neuralink performed its first surgery in January, implanting a chip into the brain of a patient who became quadriplegic due to a diving accident. The company announced that it successfully completed a second implantation surgery in August. It reported that patients were able to move mouse cursors and play games using only their thoughts.

Musk's Neuralink. Reuters Yonhap News

Other representative companies in the invasive method of implanting chips into the brain include Synchron and Paradromics. Among them, Synchron has received support from famous investors such as Bill Gates.

Additionally, the market using non-invasive methods such as brainwaves is also expanding, with startups like Open BCI and NextMind actively researching compatibility with products such as brainwave-supported headphones, virtual reality (VR) headsets, and smart glasses.

Last month, Neuralink announced the commencement of clinical trials for technology that allows people with physical disabilities to control robotic arms using only their thoughts through brain chip implantation. The research is still in its early stages, and this is the first human trial. It is known that it will take several more years before the device receives approval and is finally used.