Mary Lou Jepsen, a former executive at Google X, Facebook and Intel, is working on a wearable device that could one day transmit your thoughts to a computer or to another human being. At the moment, the device is being designed to fit into a knit hat and would, as Jepsen explained to CNBC, mirror many of the capabilities of multimillion dollar MRI machines.

Within the next decade, eight years to be precise, Jepsen believes the devices may be capable of person-to-person and person-to-computer thought-based communication. Jepsen left Facebook in 2016 to found San Francisco-based Openwater, an imaging startup geared toward making more affordable medical technology. There is currently no prototype for the wearable device.