As I mentioned in the previous post, our ideal patent is "Decoding Heard Speech And Imagined Speech From Human Brain Signals". The team is really excited about the idea. This post will help as a wrap up of the work mentioned during the last weeks related to this patent.
The potential market is huge and new, with a potential revenue of $500 million. We couldn't talk with the proffesor yet, so we don't have an estimate of the cost of the product yet, but that is something that will influence in this. The market is open to people with full paralysis (around 500,000 in the U.S.) and people with serious speech disorders (1.5 million people). This means a huge market.
Obviously, one thing is the potential market. Another thing is how things actually work. We need to carefully study the possibility of making it a non-implanted device. If it will be implanted, there might be a lot of issues that will clearly cut the scope of the MVP. There is no competition in this market, and this technology is really new. We will need to study carefully how to introduce this new technology to it because it.
Your project certainly looks very interesting and it looks like there would be a lot of people willing to use this device (given the cost is affordable). I hope you better luck meeting the professor next time!
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