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Big Tech sees neurotechnology as its next AI frontier
Neurotechnology that uses artificial intelligence is opening up new possibilities in healthcare that did not exist before.
For decades, companies and researchers have explored implantable devices that interpret signals in the brain and translate them into words or physical commands. The technology is not new, but now artificial intelligence is accelerating advances, allowing people affected by debilitating illnesses to communicate in ways that were previously physically impossible.
These devices have changed the game for people like Rodney, a patient living with ALS who had a Stentrode device implanted in his brain. The device, developed by Synchron, a neurotechnology company backed by Amazon’s Jeff Bezos and Microsoft’s Bill Gates, contains a tiny electrode that converts brain signals into physical actions, allowing Rodney to type on a keyboard using only his thoughts.
While neurotechnology can empower patients like Rodney, AI could make less invasive neurotechnology more accessible to everyday consumers and spur the next generation of consumer-facing technology products.
According to Precedence searchthe neurotech device market was valued at around $15 billion in 2023 and is projected to reach more than $55 billion by 2032. That’s one of the main reasons why big tech companies like Meta (GOAL) and apple (AAPL) are supporting research into devices that can decode thoughts and perceptions without requiring invasive surgery.
But as Big Tech moves to develop neurotechnology advances in the medical world, experts warn that it could put our most valuable data – the privacy of our thoughts – at risk.
“This is our last stronghold of privacy, and we have given up on every other aspect of privacy that exists,” said Nita Farahany, futurist, technology ethicist and author of “The Battle for Your Brain.”
Big Tech wants to read your mind
Elon Musk’s Neuralink made headlines earlier this year when the company implanted its first human patient with a brain-computer interface (BCI), although the company said on Thursday that found some problems with the implant.
The Neuralink implant, which has more than 1,000 electrodes and 64 wires, malfunctioned after several wires were retracted from the brain, which decreased the number of effective electrodes. On a blog postthe company said this would not have a negative impact on the functioning of the implant.
Musk isn’t the only CEO trying to make neurotechnology a reality. At least 30 companies are currently selling neurotechnology or developing the technology.
Elon Musk, co-founder of Tesla and Neuralink, speaks at the Milken Institute Global Conference at the Beverly Hilton Hotel on May 6, 2024, in Beverly Hills, California. (Apu Gomes/Getty Images) (Apu Gomes via Getty Images)
Apple, for example, has a patent for AirPods with built-in EEG technology to measure brain activity. Given the concerns Apple’s slow iPhone salessome investors expect the company to produce interesting new products that generate additional revenue.
The story continues
Health has always been a goal for Apple. CEO Tim Cook laid out this strategy in 2019, saying, “If you look to the future… and ask the question: what has Apple’s greatest contribution to humanity been, it will be about health.”
Meta is another company funding a team of neuroscientists who are advancing this research to understand how humans process language.
In a study conducted by Meta’s Fundamental AI Research (FAIR) group, researchers displayed an image in front of participants for 1.5 seconds. Users sitting at a neuroimaging machine thought about the image they saw, and the AI was able to use this brain activity data to recreate the image.
“Right now, this is not a mind-reading technology,” Jean-Rémi King, the lead neuroscientist working on the project, told Yahoo Finance. “What we can try to do is reconstruct the image that they see at a given moment, so we can really decode the perception.”
The results weren’t perfect, as seen in the image below, but they were close enough that the research team initially thought the test was flawed.
On the left is the photo that Meta’s AI fundamental research team showed participants. The image on the right shows the image that the AI reconstructed by decoding participants’ brain activity.
“The first reaction was… let’s try to figure out where we might have had some bugs that could explain the quality of these results,” King said.
King emphasized that consumer-facing products are not the end goal of his research, and Meta says his goal is “to help people who have suffered traumatic brain injuries communicate.”
But at the same time, Meta CEO Mark Zuckerberg has made the company’s neurotech ambitions clear since 2021, when he began promoting an armband that uses electromyography to detect neural signals, allowing users to type and click on a screen with their movements. more subtle of the hands.
“I think we’ll start getting some consumer neural interfaces soon,” Zuckerberg said in April. “I’m not talking about something that goes into your brain. I’m talking about something you wear on your wrist.”
The privacy problem
There’s a big question underlying all this research and product development: What would our world be like if big tech companies could literally read your mind?
Non-invasive brain monitoring devices could be revolutionary in medicine for patients, but not everyone is excited about the prospect of Big Tech gaining access to people’s thoughts.
Neurorights advocates believe that our thoughts are the last data we have left. That’s why they’re now fighting for legislation that protects mental privacy, while tech companies continue to fund brain scanning research.
“There are absolutely no regulations,” said Dr. Rafael Yuste, professor of biological sciences and neurosciences at Columbia University. “It’s like the Wild West.”
On July 6, 2024, electroencephalography (EEG), which measures the electrical activity of the brain, will turn 100 years old. (Jacob Schröter/Images Alliance via Getty Images) (Images Alliance via Getty Images)
After years of research, Yuste discovered a way to control rats’ thoughts using lasers. The experience scared him so much that he co-founded the Neurorights Foundation in an effort to safeguard thought privacy.
And concerns about the privacy implications of neurotechnology are already driving policy changes. In April, Colorado passed a bill that expanded the state’s privacy law to include neural rights – the first of its kind in the US. Similar legislation is also under discussion in states such as California and Minnesota.
“The only space we have for mental relief is actually our brains and mental states,” Farahany said. “It’s kind of the final piece of the puzzle.”
Farahany has a proposed framework for neurorights legislation that advocates for more privacy in general, with “a right to self-determination over our brains and mental experiences.”
According to Farahany, it would still allow patients who want – and even need – neurotechnology to have access to it.
For Rodney’s part, when I asked him via WhatsApp what he hopes his Stentrode device will achieve in the long term, he thought, “I hope it reaches more people.”
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The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).
The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.
In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.
Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.
Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.
Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.
Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.
Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.
IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.
Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)
Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.
“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”
Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.
An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.
Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.
Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.
Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.
Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.
But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.
Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.
“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”
Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.
“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”
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Latest news on July 11, 2024: Airtel says its new Xstream Fiber plans bundle over 350 live TV channels (Official Photo) (Reuters) Disclaimer: This is an AI-generated live blog and has not been edited by Hindustan Times staff.
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?
Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.
Jio Financial Services News
Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”
“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.
Jio Financial Stock Target Price
Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”
On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
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