Tesla and SpaceX CEO Elon Musk said the brain implant his company Neuralink is working on could potentially be ready to be put inside a patient within a year, Business Insider reported.

Founded in 2016, Neuralink is engaged in neural technology and is developing an implant designed for direct interaction with the human brain. The initial purpose of the implant, according to Elon Musk, is to use it as a treatment for diseases and brain injuries.

"There's still a lot of work to do," Musk said when speaking with Rogan. "So when I say, you know, we've probably got a shot at putting it in a person, you know, within a year. I think, that's exactly what I mean, I think we have a chance of putting input in one end, having them be healthy, and restoring some functionality that they've lost."

The chip could potentially be used to restore vision, hearing, and limb movement in addition to fighting diseases that affect the brain, Musk said.

According to him, the device will be implanted directly into the skull to allow electrode filaments to interact with specific areas of the brain.

"It could, in principle, fix anything that's wrong with the brain," Musk said.

It is not the first time Musk has made such statements. Back in July 2019, Musk said he hoped to have an implant in a human patient by the end of next year.

But that's just the early ambitions Musk has in store for Neuralink. In the long term, he hopes to develop a device that could enable "symbiosis" between humans and AI.