Neuromorphic computing technologies are about to change modern computing, yet most work thus far has emphasized hardware development. This review focuses on the latest progress in algorithmic advances specifically for potential use in brain implants. We discuss current algorithms and emerging neurocomputational models that, when implemented on neuromorphic hardware, could match or surpass traditional methods in efficiency. Our aim is to inspire the creation and deployment of models that not only enhance computational performance for implants but also serve broader fields like medical diagnostics and robotics inspiring next generations of neural implants.