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Brain-computer Interfaces
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Brain-computer Interfaces

Bridging the gap between the human brain and computer

Overview

The brain-computer interface (BCI) industry encompasses a rapidly evolving field at the intersection of neuroscience, technology, and healthcare. BCIs facilitate direct communication between the human brain and external devices, enabling control, feedback, and information exchange. In the hardware segment, neural implants, EEG headsets, and wearable devices capture neural signals, while signal processing algorithms and artificial intelligence in the software segment interpret and translate these signals into actionable commands.

BCIs have a variety of applications, including medical rehabilitation for individuals with paralysis, neuroprosthetics, and cognitive enhancement. Research areas span from decoding thoughts and emotions to enhancing cognitive functions. As technology advances, the BCI industry is poised to revolutionize healthcare, gaming, communication, and accessibility, opening new frontiers in understanding and harnessing the power of the human brain for improved quality of life and expanding human capabilities.

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Use cases

Use cases for brain-computer interface (BCI) technologies predominantly lie across healthcare and biotechnology applications, particularly assisting individuals with neurological disorders that impair motor functions. These technologies are being developed to help people with conditions like paralysis or amyotrophic lateral sclerosis (ALS) regain some level of control over their environment, enhancing their quality of life. Another important healthcare application is in stroke rehabilitation, where BCIs help stroke survivors improve motor functions and speed up their recovery by translating brain signals into physical actions, thereby retraining the brain.

Besides healthcare, BCIs are also being explored in gaming and entertainment spaces. In these areas, they track neural signals to enhance user experiences in gaming and virtual reality (VR) by allowing players to control game or VR environment elements with their minds, creating more immersive and interactive experiences.

Despite some applications, BCI remains an emerging field. Larger players, such as Neuralink, are undergoing clinical trials for their implants to assess viability and understand the full potential of this technology. 

We have identified key BCI use cases below:

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Overview

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Connecting the human brain with technology

Wouldn’t it be fascinating to control a computer with just your thoughts? Imagine scrolling through your social media or surfing the web just by thinking… wouldn’t it be exciting to play games without lifting a finger? Most importantly, how life-changing would it be if a paralyzed person could communicate, walk, and move using only their thoughts? These ideas have been in human consciousness for a long time, evident in popular science-fiction films from the 1900s, and today, the concept of connecting a human brain to a computer is closer to becoming a reality in the form of brain-computer interfaces (BCI).
Although BCIs have been studied for decades, the technology became the talk of the town after Neuralink, Elon Musk’s BCI startup, received FDA approval to conduct human clinical trials in May 2023, having subsequently raised a whopping USD 280 million in Series D funds within three months. The company aims to help paralyzed people take small steps toward regaining control; e.g., moving a cursor or typing on a computer using only their thoughts. Neurological disorders affecting people are rampant today, and BCIs are now emerging as the light at the end of a dark tunnel plaguing human health and well-being. 
This Insight explores BCI as a technology, types of BCIs and their applications in the medical sector, industry landscape, key players, demand drivers, challenges to growth, and the potential of the technology in the healthcare sector.

What is a BCI?

A brain-computer interface (BCI), sometimes called a brain-machine interface (BMI), is a direct communication link between the human brain and a computer. It translates the brain's neural signals into commands that can be processed by external devices. This essentially means that neural signals (our commands to act) flow directly into the devices, rather than through our bodies. For example, navigating a cursor does not require manually using a mouse/touchpad; with BCIs, we can directly move the cursor on the screen without an intermediary. 
Research on BCIs dates back to the 1970s and has seen remarkable developments since then. Most of these developments have focused on therapeutic applications, specifically on restoring movement and communication for paralyzed or disabled individuals.
In 2015, Chinese researchers unveiled a brain-controlled car that allows physically challenged individuals to drive a car without having to move their hands or legs, while companies like Blackrock Neurotech and research institutes have been conducting various research since 2004 to enable paralyzed patients to communicate and control robotic limbs. However, brain implants have yet to reach the market, although startups are the closest they have ever been. Most recently, in September 2023, Precision Neuroscience received the FDA’s breakthrough device designation and hopes to receive marketing approval in 2024.
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