Neuralink gets the headlines, but the neurotechnology field is broader and more commercially advanced than most people realize. We’re at an inflection point where technologies that have been confined to research labs are beginning to reach patients and consumers.

I’ve been tracking this space for five years. Here’s what I see happening.

The Technology Landscape

Neurotechnology spans a range of approaches:

Invasive brain-computer interfaces (BCIs). Electrodes implanted in the brain to read neural signals or stimulate neurons. Neuralink is the highest-profile player, but Synchron, Blackrock Neurotech, and academic labs are also advancing the field. These offer the highest resolution neural recording but require surgery.

Non-invasive BCIs. Systems that read brain activity from outside the skull - EEG (electroencephalography), fNIRS (functional near-infrared spectroscopy), and MEG (magnetoencephalography). Lower resolution than invasive approaches but don’t require surgery.

Peripheral nervous system interfaces. Devices that interface with nerves outside the brain - spinal cord stimulators, vagus nerve stimulators, peripheral nerve interfaces. More established commercially than brain interfaces.

Neurostimulation. Devices that deliver electrical or magnetic stimulation to modulate neural activity. Deep brain stimulation for Parkinson’s disease is the most established application.

What’s Actually Commercializing

Let me separate what’s real from what’s hype:

Already commercial and growing:

• Deep brain stimulation for movement disorders (Parkinson’s, essential tremor)
• Cochlear implants for hearing restoration
• Spinal cord stimulators for chronic pain
• Vagus nerve stimulation for epilepsy and depression
• EEG-based consumer devices (meditation tracking, focus monitoring)

In clinical trials or early commercial:

• Invasive BCIs for paralysis patients (cursor control, communication)
• Closed-loop neurostimulation that adapts to neural state
• Retinal implants for vision restoration
• Non-invasive brain stimulation for depression

Still primarily research:

• Memory enhancement
• General cognitive enhancement
• High-bandwidth brain-computer communication
• Direct brain-to-brain communication

The pattern is clear: medical applications with clear clinical need are advancing faster than enhancement applications. Regulatory pathways exist for medical devices. Enhancement applications face murkier regulatory status and ethical concerns.

The Neuralink Effect

Neuralink’s high-profile work deserves specific discussion.

Their technical approach - thousands of electrodes on flexible threads, surgical robot for implantation, wireless transmission - represents genuine advances over previous invasive BCI systems. Their first human implant earlier this year demonstrated that the system can work.

But Neuralink is also one company in a broader field. Synchron has implanted their device in multiple patients using an approach that doesn’t require open brain surgery (it goes through blood vessels). Academic groups continue advancing the science.

What Neuralink has done effectively is attract attention and talent to the field. Whether they specifically lead the commercial market is less important than the acceleration they’ve brought to the entire space.

Commercial Opportunities

Where might innovation managers see actionable opportunities?

Medical device applications. If you’re in healthcare, neurotechnology devices for specific conditions represent growing markets. The regulatory paths are becoming clearer, and clinical evidence is accumulating.

Non-invasive BCI for consumer applications. EEG-based devices for meditation, focus, and wellness are an emerging consumer category. The technology is limited - you can detect broad states but not specific thoughts - but there’s a market for what it can do.

Neural signal processing. Companies building the software and algorithms to interpret neural data. This is less hardware-dependent and might scale across multiple device platforms.

Adjacent technologies. Things that neurotechnology needs: better electrodes, better power systems for implants, better wireless communication, better surgical tools. Picking picks-and-shovels opportunities can be lower risk than betting on specific applications.

Technical Challenges

Anyone entering this space should understand the challenges:

Longevity. Implanted devices need to function for years in the body’s hostile environment. Electrode degradation, immune response, and encapsulation are ongoing challenges.

Resolution vs. invasiveness tradeoff. More detailed neural information requires more invasive interfaces. Finding better non-invasive approaches is a major research focus.

Decoding complexity. Interpreting neural signals to understand intent or cognitive state is technically difficult. AI is helping, but we’re still far from “reading minds.”

Safety. Brain interfaces carry serious risks - infection, immune response, device failure. Regulatory requirements are appropriately strict.

Ethics and acceptance. Public acceptance of brain interfaces varies widely. Medical applications for severe conditions have broader acceptance than enhancement applications.

What to Watch

Signals that would increase my conviction:

• Long-term outcome data from Neuralink and Synchron’s human trials
• FDA approval of new BCI indications
• Non-invasive systems demonstrating significantly better resolution
• Consumer BCI products achieving meaningful market adoption

Signals that would decrease conviction:

• Serious adverse events in clinical trials
• Technical setbacks with electrode longevity
• Regulatory tightening that slows development

For Innovation Leaders

If you’re evaluating neurotechnology:

Distinguish near-term from long-term. Medical applications for specific conditions are actionable now. General cognitive enhancement is a decade+ away.

Watch the research pipeline. What’s in academic labs today predicts commercial products in 5-10 years. Tracking the science gives early signal.

Consider the ecosystem. Device companies need clinical partners, regulatory expertise, manufacturing capability. Opportunities exist throughout the value chain.

Ethical considerations matter. Public perception and ethical acceptance will influence market development. Companies that navigate these thoughtfully will have advantages.

Neurotechnology is real and advancing. The timelines are longer than Elon’s tweets suggest, but the trajectory is clear. For innovation managers in healthcare, wellness, and human performance, this is a space worth understanding now, even if the biggest applications are years away.