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While the technology has significant potential for disease detection, the company's ultimate aim is to develop it for communication via thought - in just eight years.
'I figured out how to put basically the functionality of an M.R.I. machine — a multimillion-dollar M.R.I. machine — into a wearable in the form of a ski hat,' Dr Jepsen told CNBC.
MRI (Magnetic Resonance Imagery) machines can already see your thoughts, and Dr Jepsen says she's worked on shrinking that technology down.
The technology may also enable uploading, downloading or even augmenting our memories, thoughts and emotions non-invasively