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I expect you'd carry out most such work in the form of simulations, only moving to hardware once you'd demonstrated an efficient algorithm. If I'm right about that then it would be easy for any corporate R&D on the topic to fly under the radar indefinitely.

On the academic side of things there's a steady drip of papers on things like spiking neutral networks so I'd say the general theme is being explored.

I figure if a breakthrough happens it will be overnight just like what happened with transformers.