Recap: Here's a quick look at Elon Musk and Neuralink's brain chip

Further, Musk said that the company is preparing for first human implantation soon and they have received FDA Breakthrough Device designation in July 2020. He also called on people who are great at solving problems to join the company and help complete the device and make it affordable and reliable.

American technology entrepreneur and SpaceX CEO Elon Musk on Friday provided updates regarding the progress of the implantable device that his neuroscience startup Neuralink is developing. The brain chip with fine wires, almost the size of a large coin, can connect humans and machines.

Starting the demonstration, Musk said, "Our goal is to solve some brain and spine problems with a seamlessly implanted device that can be implanted in your head and feel totally normal. We need a generalized brain device that can solve almost all problems like memory loss, hearing loss, blindness, paralysis, depression and brain damage, among others."

"We're not trying to raise money or do anything else, but the main purpose is to convince great people to come work at Neuralink and help us bring the product to fruition."

He explained that the implantable device being developed by the company is placed in the inner skull by replacing a coin-sized piece of skull and can be removed whenever needed, without any neural damage.

The Link / Image Credit: Neuralink (YouTube)

Musk claims that the device comes with a lot of features users can expect to see in today's smartphones and smartwatches. It could be used for health monitoring and warning about possible heart attacks, strokes or any other damage. The device can be used all day and can be charged in the same way as a smartwatch or a phone.

"It's like a Fitbit in your skull with tiny wires and it's 100 times better than the next best consumer devices that's available in the market," Musk said.

Musk demonstrated the brain activity in several pigs that had the current prototypes of the device implanted on their head. Dubbed Link V0.9, the prototype has about 1024 channels and measures 23mm x 8mm.

Real-time signals from the neural link in the pig's head/Image Credit: Neuralink (YouTube)

Further, Musk noted that the company is preparing for first human implantation soon and they have received FDA Breakthrough Device designation in July 2020, adding that they will make the product as safe as possible.

"We are working closely with the FDA and we'll significantly exceed the minimum FDA guidelines for safety. We'll take the same safety approach just as with Tesla," he said.

He concluded the presentation by again calling on people who are great at solving problems to join the company and help complete the device and make it affordable and reliable.