Neurotechnology offers a unique possibility of comprehending the intricate functional processing underlining consumer behavior. Consequently, neurotechnology enables detailed insights into consumer engagement and decision-making processes, which result in impactful marketing and product presentation. Therefore this chapter delves into the state-of-the-art of neurotechnology and reviews the developments in artificial intelligence and brain–computer interfaces to investigate consumer behavior. Neurotechnology coupled with AI allows to decode functional processes of the consumers. Understanding these functional processes and biosignals of the consumers may enable an advancement in our understanding of consumer behavior. Furthermore, the chapter discusses the ethical, privacy, and technical challenges associated with neurotechnology-driven consumer behavior analysis. The chapter advocates for robust ethical standards to enhance data security and broaden access to neurotechnology. In summary, the chapter presents a comprehensive and in-depth overview of the role of neurotechnology in better understanding consumer behavior. The chapter also highlights the importance of the critical balance between technological advancement and ethical responsibility. The chapter may be of interest to the broader audience in the field of consumer behavior analysis as well as to associated applications in the industry.