Specifically, using a linear approach (like PCA, but slightly fancier), we find that stimulus-related information is present along many, many dimensions of the neural response---much more than previously expected/reported.
[1] https://journals.plos.org/ploscompbiol/article?id=10.1371/jo...
https://medarc-ai.github.io/mindeye/
Recent studies have demonstrated using fMRI data to reconstruct the images of what the person being scanned is seeing. There's enough information there to produce a highly plausible reconstruction - if someone is seeing a picture of a zebra, the software shows a zebra, but it's not going to get the stripe patterns exactly right.
fMRI provides a great proxy and noisy set of signals. Fortunately, the brain is redundant enough that a bunch of regions getting activated creates a sufficiently differentiable pattern at large that you can get enough good information to do things like MindEye and so on. Fortunately, recent AI breakthroughs have allowed extremely high dimensional geometry to be handled relatively simply, with millions or billions of dimensions being processed into semantically useful tools.
I tend to think of fMRI data as some highly nonlinear transform of whatever neural activity is occurring in a particular region of the brain, at pretty coarse spatial resolution (~1-3 mm) and pretty bad temporal resolution (~5-15 s).
Sure, it's no direct measure of neurons firing, but that doesn't mean there isn't information in the signal that we can interpret and maybe use (see [1] for a recent example of reconstructing seen images from brain activity)
As a cognitive neuroscientist, I tend to abstract away a ton of the details (neurons, molecules) and focus on more general computational principles: how do we get complex behavior from many simple interacting units---voxels in fMRI, for instance?
Regarding the specific paper you posted, I saw some of the discourse around it but haven't read it carefully myself (it's not my area of expertise). I saw some recent re-analysis of that data [2] that argues that the result isn't valid, but need to look at it more carefully.
[1]: https://www.nature.com/articles/s41598-025-89242-3 [2]: https://www.biorxiv.org/content/10.64898/2026.04.21.719913v1
MRI is, in general, a lot harder than people often imagine. It uses complicated physics to measure convoluted physiological changes to indirectly measure brain activity, which is obviously stupifying involved--and then relate that to other, often complicated factors like behavior, lifestyle or disease state.
I think it's reasonably well-known that the BOLD response is complex and doesn't directly reflect "average" spiking activity. Some studies find that it's sensitive to the amount of synchrony (=more neurons firing together in time) rather than the rate. The paper you mention shows another dissociation: neurons can get more fuel by extracting oxygen more efficiently OR have having more overall oxygen to extract at the same rate. Thus, it's not noise, but it is complicated.
I don't immediately see how that paper's assertion (that some areas' fMRI response is influenced by baseline oxygenation and cerebral blood flow) relate to the reliability of an information modeling experiment?
There are some notable exceptions -- Donoho, Vershynin -- but most of them are doing good old fashioned Brunn-Minkowski theory, which is fundamental but a hard sell in its most truthful form.
[0] q.bio
> The cost-benefit ratio of Mathematical research has been off-scale. The Federal government spends about $250 Million/year on mathematics research. Yet in the US there are 40 Million MRI scans per year, incurring tens of billions in Medicaid, Medicare and other Federal costs. The financial benefits of the roughly 10-to-1 productivity improvements now being seen in MRI could soon far exceed the annual NSF budget for mathematics research