This week, the Texas Association of Business (TAB) is excited to co-host the 2024 Texas Innovation and Technology Forum with the Texas Information Technology Caucus and TechNet on August 1 at the AT&T Hotel and Conference Center in Austin. This forum is a cornerstone event for business leaders, policymakers and technology enthusiasts, providing a platform for exploring the latest advancements in technology and their implications for the Lone Star State, as well as its citizens and economy.
The event will cover a wide range of topics, including the future of government technology, the impact of tech advancements on the energy sector, and the evolving nature of the workforce in an increasingly tech-driven economy. These discussions will provide attendees with a comprehensive view of how technology is shaping various sectors in Texas and the broader national landscape.
One of the key highlights of the forum will be a keynote address by former Congressman Will Hurd, who will delve into the intricacies of cybersecurity in the age of artificial intelligence. His insights will be invaluable as we navigate the challenges and opportunities that come with the rapid evolution of digital technologies. Another featured speaker, University of Texas at Austin President Jay Hartzell, will discuss how UT Austin is pioneering efforts in AI research and education, underscoring the significance of developing leaders and innovations in this transformative field.
Artificial intelligence and semiconductors are already integral aspects of our state's economy, and as technology continues to evolve at a rapid pace, its importance is only set to grow. Texas has positioned itself as a leader in these fields, boasting a robust ecosystem that supports both innovation and production. Our recent research found that in 2022 alone, the tech sector contributed a substantial $469.75 billion to Texas's economy, representing 19.6% of the state's total GDP. To maintain the exponential economic growth Texas is known for, it is essential to continue ensuring our state’s policies support our rapidly growing technology sector.
The semiconductor industry, in particular, is a vital component of Texas' economic landscape, as we have become a premiere destination for major manufacturing facilities thanks to our competitive energy prices. This sector not only fuels the local economy but also plays a crucial role in national and global supply chains, impacting everything from consumer electronics to critical infrastructure. Thanks to the passage of the Texas CHIPS Act last year, state leaders devoted an additional $666 million to establish advanced microelectronics research and development centers at our leading universities, including UT Austin and Texas A&M.
Similarly, AI is a driving force behind many of the advancements seen across industries. Texas is an international leader in AI research, with UT Austin leading groundbreaking, interdisciplinary supercomputing, Texas A&M creating a new quantum chip center and the University of Houston leading research on applying AI for decision support for the U.S. Army. The state’s focus on AI should be on more than just basic research; it can be about creating relevant, scalable start-ups to continue to transform Texas’ core industrial strengths and improving the quality of life for its residents.
The 2024 Innovation and Technology Forum will serve as a vital platform for discussing these issues, sharing insights, and forging connections that will drive Texas' continued success in the technology sector. We encourage you to join us at this one-of-a-kind event to explore the future of technology in Texas, engage with industry leaders, and gain a deeper understanding of the trends and developments that will shape our world.
Don't miss this opportunity to be a part of the conversation and contribute to the growth and development of Texas' increasingly vibrant tech ecosystem.
To preview the full agenda for the Innovation and Technology forum, please click here.
-TAB President & CEO Glenn Hamer
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