Morgan Stanley Fund recently announced that Elon Musk revealed that his brain-machine interface company "Neuralink" has successfully implanted a second brain-machine interface chip into a human patient. This is a major development following the first patient implanted in January of this year. This indicates that a new era of human-machine interaction may not be far off. Currently, the fields of healthcare and transportation are the first major directions empowered by "AI+". Exploring Brain-Machine Interfaces: A New Boost for Future Healthcare Brain-Computer Interface (BCI) is essentially a use of "AI+". It creates an information channel between the human brain or spinal cord and external devices, recognizing intent and output through the collection and decoding of central nervous system activity, controlling external devices, receiving feedback, and forming a closed-loop human-machine interaction system. Based on the method of information collection, it can be divided into invasive and non-invasive. Invasive brain-machine interfaces capture neural activity by inserting electrodes and sensors directly into the brain, obtaining high-quality neural signals, but with a higher risk of trauma. Both cases of implants this year fall into this category. Non-invasive interfaces place electrodes and sensors on the surface of the scalp to receive signals, offering high safety but lower signal quality and limited functionality. In recent years, as artificial intelligence has advanced, brain-machine interfaces have gradually transitioned from science fiction to reality. With the leap in performance of AI chips, scientists can explore and implement more complex and precise solutions for brain-machine interfaces. These high-performance chips not only significantly accelerate data processing speeds but also improve algorithm precision, enabling brain-machine interfaces to more efficiently analyze and respond to brain signals. Currently, brain-machine interfaces are mainly used in the field of healthcare to assist patients with physical disabilities. It allows for real-time reading of the patient's brain activity signals, assisting in daily activities through thought. Entering the clinical stage, the future of brain-machine interfaces looks promising In fact, research on brain-machine interfaces has been ongoing globally, with China starting relatively later. In terms of financing, 2021 was a big year for global brain-machine interface industry financing, with explosive growth in financing for medical brain-machine interfaces globally and domestically. Coming into 2024, China has also made breakthroughs in the field of brain-machine interfaces. In January 2024, China successfully implanted the first human patient with the semi-invasive brain-machine interface NEO, assisting patients with high-level paralysis in controlling the cursor with their thoughts and independently drinking water through brain activity-driven pneumatic gloves. In April 2024, Beijing issued the "Action Plan to Accelerate the Development of the Brain-Machine Interface Industry in Beijing (2024-2030) (Draft for Comments)", marking the first provincial-level brain-machine interface special industrial policy document. Currently, the most widespread application of brain-machine interfaces is assisting people with disabilities in using prosthetics. After connecting to neural signals, prosthetics can perform highly sensitive and complex operations. With continuous research and development, the brain-machine interface industry has moved from a conceptual phase to clinical trials, indicating that commercialization of brain-machine interfaces is on the horizon. Looking at potential application scenarios, brain-machine interface technology is expected to be widely used in medical, rehabilitation, and entertainment fields in the future. According to data from the international market research firm IMARC Group, the brain-machine interface market was worth $1.98 billion in 2023 and is expected to reach $3.3 billion by 2027, with a compound annual growth rate (CAGR) of 14%, indicating a promising future. Empowering everything, the "AI+" field has great potential The once fantastical brain-machine interface has now become a reality, thanks to the assistance of "AI+". The current "AI+", like the "Internet+" wave of the previous era, is profoundly influencing the development of various industries with its powerful empowerment effect. Currently, the fields of healthcare and transportation are leading the way in being empowered by "AI+". AI+ Healthcare In addition to brain-machine interfaces, AI-assisted diagnosis, AI remote healthcare, robot-assisted surgery, and other technologies are gradually entering the mainstream. The "14th Five-Year Plan for the Development of the Medical Equipment Industry" released in 2021 explicitly calls for accelerated development of intelligent medical equipment; the "Opinions on Further Improving the Medical and Health Services System" released in 2023 once again emphasizes the development of "Internet+ healthcare", speeding up the application of the internet and artificial intelligence in the medical and health fields. "AI+ healthcare" has great potential. AI+ Transportation From autonomous vehicles like Robotic Cars to Robotaxis, the concept of intelligent driving has become a market hotspot. The Ministry of Transport's "Intelligent Connected Vehicle Technology Roadmap 2.0" sets a target for 2025 where sales of intelligent connected vehicles will account for more than 50% of total vehicle sales that year. Highly automated driving vehicles will first achieve commercial applications in specific scenarios and limited areas, gradually expanding their operating range. Currently, many car companies are actively entering the field of intelligent driving. In summary, the integration of AI into various industries is the trend, and the new era of "AI+" is approaching. Drawing on the previous era of "Internet+", some industries may be disrupted in the future, but more emerging industries and investment opportunities will continue to emerge.