As the Texas State Chamber, we know that technology touches everyone and impacts every business of every size and industry. In fact, a recent TAB economic impact study found that Texas’ tech sector contributes more than $469 billion to the Texas economy, representing nearly 20% of our state’s total GDP. That is why the Texas Association of Business (TAB) launched the Tech Means Business Coalition in 2021.
The Tech Means Business Coalition is a group of broad-based industry leaders representing employers large and small, traditional and technological, who are committed to making Texas the epicenter of new innovation, job creation, and growth. Our mission is to foster smart, forward-looking policies to drive job creation and economic prosperity in Texas and beyond. We believe that by working together, we can create a brighter future for all Texans.
Last session, TAB prioritized working with Texas lawmakers to ensure data privacy legislation allowed companies to remain innovative, while protecting consumer’s data. TAB supported the creation of the Artificial Intelligence (AI) Advisory Council, which held their first meeting last week. The Council will study how state agencies are using AI and provide recommendations based on the information gathered.
As Representative Giovanni Capriglione recognized at TAB’s policy conference in December: “Artificial intelligence is only going to continue to grow, and we have to be ready to handle that.”
Additionally, historic legislation was passed through the Texas CHIPS Act, and last week Governor Abbott announced the inaugural members of the Texas Semiconductor Innovation Consortium Executive Committee. Texas has been the top semiconductor exporter for the last 12 consecutive years, and will continue to lead on microchip production, design, and manufacturing. The CHIPS Act, in addition to our regulatory environment and unparalleled infrastructure, will keep Texas at the top of global competition and leadership in the semiconductor industry.
As AI and machine learning unleash a new wave of investment, some experts say up to $1.8 trillion worldwide by 2030, TAB and the TAB Tech Means Business Coalition will prioritize ensuring proposed policies make Texas a leading beneficiary of that massive capital investment. As business leaders, we believe Texas should approach artificial intelligence and machine learning with patience and great caution, significant stakeholder input, and a bias towards encouraging Texas investment, job creation and innovation.
Nations and states that stifle investment and innovation by over-regulating will lose out on investments, jobs, tax revenues, and the new business ecosystem growing around AI development. We are looking forward to Texas embracing AI and being leaders in the world when it comes to building this digital infrastructure.
- Megan Mauro, EVP & Chief of Staff, Texas Association of Business
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