Houston expert discusses AI use in banking and phishing scams

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AI carries security risks in banking, including being used by scammers to target financial information. Photo via Getty Images

With artificial intelligence technologies easily accessible and growing in popularity, consumers and business owners alike should be aware of both the benefits and risks when it comes to the utilization of generative AI tools in banking and finance. While data-driven AI creates the opportunity to further drive innovation in banking, the data-reliant nature of the industry makes it a natural target for scammers looking to intercept personal and business finances and sensitive customer information.

As banks and other financial service providers are using AI as a tool to scan for anomalies or errors that are known fraud techniques, criminals are using AI to improve their chances of perpetrating fraud. For this reason, consumers and businesses should guard their data with the same diligence used to guard cash and other valuable physical property.

Privacy and accuracy

For entrepreneurs and businesses of all sizes, it is important to keep in mind the practical applications of AI beyond the trending headlines, whether implementing the technology into everyday internal business practices, or into client-facing solutions.

When feeding information into AI, it is best to maintain a defensive position and be proactive about not disclosing sensitive or private information. Also, rely on sound judgment when deciding when and how to use AI technologies. From a business standpoint, privacy should be embedded into a financial system’s design and leaders should be transparent about the technologies used within a given system.

Technologies like ChatGPT are large language models operating on massive datasets, including documents and web pages across the internet. This poses a risk because some sources of this data lack accuracy. When seeking financial advice via AI technologies, it is best to conduct research by curating and limiting the dataset then talking through your unique financial position in person with your trusted banker and IT staff or consultants.

Phishing and business email compromise via AI

Historically, phishing and business email compromise, or BEC, attempts have been more easily recognizable and often flushed out due to grammatical errors and unnecessary punctuation. With technologies like ChatGPT, scammers are now better equipped to draft well written content that can fool a person into thinking a communication is legitimate. Phishing can lead to people clicking links or attachments that harbor malware or other viruses that can lead to account takeover. With BEC, a person might be fooled into thinking an email is from a legitimate person. Scams like these could potentially lead to the disclosing of sensitive information or accepting transaction instructions or changes, ultimately resulting in money being sent to a fraudster.

AI voice generators

AI voice generators can be used to mimic voices of anyone including bankers, C-suite leaders and customers. If a person is fooled into believing they have received a voicemail or are talking to a person they know, they may accept instructions from a fraudster like providing transaction approvals and sensitive or private information, resulting in fraud.

AI can also create fake identities, including AI-developed photos of individuals, and other false information. These fake identities could be used to create accounts for fraudulent purposes.

AI is here to stay

AI is forecasted to have a lasting impact on the banking industry. Whether on the business or consumer side of the spectrum, it will be important to embrace the innovation and enhancements generative AI will continue to produce, while maintaining a cautionary stance around protecting client and business information and finances. Fraud prevention practices will need to continue evolving alongside the fast-paced growth of generative AI in banking.

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Ken Smiley is treasury management division manager of Amegy Bank and a fraud protection expert.

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The new space allows for Amegy Bank employees as well as North Houston innovators to work collaboratively. Photo via Amegy Bank

Houston bank opens new innovation hub within its location in The Woodlands

innovation meets banking

Amegy Bank renovated it banking center in The Woodlands to add a hub for innovation, technology, and entrepreneurship.

The office, located at 4576 Research Forest Dr., now houses a refurbished space from The Cannon, a co-working and entrepreneurship hub with locations across Houston. The Cannon creates and manages spaces where startup founders, business owners, investors, and more can meet on common ground to collaborate on their entrepreneurial endeavors.

“Amegy Bank has served the needs of business owners and families across Houston for over 30 years,” Amegy Bank-Houston President Dave Stevenson says in a news release. “The banking center’s refreshed design, with The Cannon onsite, will revolutionize North Houston’s access to localized financial resources tailored for entrepreneurs and small-to-mid-size businesses.

"The Cannon’s building presence will enable local startups and entrepreneurs to move seamlessly through the stages of startup production, with specialized business banking services just downstairs,” he continues.

Amegy Bank has renovated space in its The Woodlands banking center. Photo courtesy of Amegy

The new hub, which was announced and opened to the public on March 18, includes a modern banking space, client meeting and entertainment area, upgraded technology, and an employee workspace that will bring together Amegy's various business lines, such as business banking, commercial banking, mortgage, private banking, wealth services, and more.

The announcement represents an expansion of an existing partnership between Amegy and The Cannon. The two entities first collaborated to open the Downtown Launchpad in May of 2021.

“The Cannon is thrilled to grow our partnership with Amegy Bank and expand our vision for building entrepreneurial communities in such an exciting and fast-growing area," says Jon Lambert, The Cannon CEO, in the release. "This expanded partnership will allow The Woodlands’ small business community to have access to our unique combination of a dynamic workspace and entrepreneurial community, as well as Amegy Bank’s exceptional commercial banking services, all conveniently located in one building."

Amegy Bank revealed its newly-renovated banking center in The Woodlands. Photo courtesy of Amegy

Downtown Houston has a new innovation space in Amegy on Main. Photo courtesy of Amegy Bank

Photos: Downtown Houston innovation hub in renovated office building opens to the public

ready to launchpad

Last week, a group of innovators, commercial real estate professionals, and Amegy Bank employees celebrated yet another feat in the Houston innovation ecosystem: another innovative and collaborative space's grand opening.

The Downtown Launchpad is officially open across a few floors in Amegy on Main, a renovated office building on the Southwest side of downtown Houston at 1801 Main St. The grand opening reception was held outside in the building's first floor courtyard adjacent to its upgraded parking garage. The event on May 18 coincided with Houston Tech Rodeo.

"The major renovations to Amegy on Main support our strong Amegy Bank culture and reinforce our commitment to supporting the Houston business, technology and entrepreneur community," says Kelly Foreman, senior vice president and manager of corporate real estate and facilities for Amegy, in a news release. "This space serves as a hub for start-ups and innovation, and the resulting job creation through these incubator programs will continue to be meaningful and impactful for our city."

The renovated space includes:

  • Coworking space managed by The Cannon
  • Accelerator and event space for the Launchpad
  • Main Line Café, a chef-driven restaurant concept open to the public
  • New courtyard
  • First-floor gaming lounge
  • New shared spaces and design elements for the building, such as expanded windows for improved daylight, new furniture, enhanced coffee bars
  • Expanded conference space

Originally announced in October 2019, the Downtown Launchpad opened parts of its upgraded space last fall. Now, the full renovation project is completed, offering a new opportunity for collaboration.

"Amegy on Main has become unlike any other space in Houston," Foreman continues. "We are thrilled to offer this new space, its amenities and business development support to our employees and the expanding innovation community."

Click through some photos of the complete spaces below.

Indoor/outdoor dining areas

  

Photo courtesy of Amegy Bank

Anu Pansare has joined the local gBETA team. Photo via gbetastartups.com

Early-stage accelerator names new Houston leader, opens applications for next cohort

now open

Houston's gBETA accelerator announced new leadership in conjunction with opening enrollment for its latest cohort this week.

The early-stage program, which is a part of Wisconsin-based gener8tor, has named Anu Pansare as its new director.

Pansare has spent the last 20 years at Sugar Land-based consulting firm Volyx and has also worked with big names like Chevron, Schlumberger, and Accenture, as well as smaller startups. She's also been involved with the Houston Angel Network. She will be replacing the accelerator's inaugural director Eléonore Cluzel in the position.

As the main liaison between Houston and gener8tor's national network, Pansare will lead gBETA's third cohort of early stage startups through its free 7-week program, which is designed to help participating companies gain early customer traction and develop key metrics that will make them more marketable for future investment.

"Downtown Launchpad is an inclusive ecosystem of tools, resources, and opportunities that help founders accelerate and scale their businesses to solve humankind's boldest challenges," says Robert Pieroni, director of economic development at Central Houston, in a press release. "The addition of Anu Pansare as gener8tor's new Houston director will strengthen our commitment to entrepreneurs in Houston and will help us evolve our strategy to better serve our founders, startups, partners, and our community."

Applications for the new cohort are open online until March 13.The zero-equity, no-fee program looks for locally based startups still in the early stage of business. Five companies will be selected.

The program is hosting a virtual webinar in partnership with SCORE Houston on March 1 to discuss the program and opportunities for interested startups. Event registration is free.

Houston's gBETA presence was launched thanks to a $1.25 million grant approved by the Downtown Redevelopment Authority in 2019 with support from Central Houston, the City of Houston, and Amegy Bank. The local team has an office at the Downtown Launchpad coworking space in the Amegy Bank Building on Main.

About a year into operations, gBETA has worked with 10 local startups in two cohorts across industries — from food tourism to sports technology, artificial intelligence for home buying to skincare and prescription solutions.

Pansare will be

holding virtual office hours for local entrepreneurs to provide insight and information about gBETA's Houston Spring 2021 program. More information on the program can be found at gBETA Houston's website or email Pansare directly at anu@gener8tor.com.
Global accelerator gener8tor's early-stage program, gBETA, plans to begin its first cohort out of the Downtown Launch Pad in April. Courtesy of Downtown Launch Pad

New-to-Houston accelerator names program director, opens applications

Starting strong

The second of two top accelerator programs that have taken a bet on Houston has announced its new program director and opened applications for its spring 2020 cohort.

Wisconsin-based gener8tor announced in September that its pre-accelerator program, gBETA, would be launching in Houston. The program follows MassChallenge, another top accelerator, premiering in Houston last year. Both accelerator programs launched in Houston thanks to a $1.25 million grant approved by the Downtown Redevelopment Authority.

Eléonore Cluzel will lead the gBETA Houston program as director, and will be the point person for the program in the region for the two annual cohorts. Previously, Cluzel worked for Business France mentoring French startups and small businesses. In her new position, she says she's excited to support founders across all industries and foster innovation.

"We're adding another resource for local founders to grow their startups and to raise money, and not have to move to Silicon Valley to do it," she says. "We will also serve as a connector, introducing founders to mentors and investors within the community and across gener8tor broader network."

Ele\u0301onore CluzelEléonore Cluzel will lead the Houston gBETA Houston program as director. Courtesy of gBETA Houston

Currently, Cluzel has regular office hours out of The Cannon's space in the Downtown Launch Pad in Amegy Tower. gBETA will co-locate with MassChallenge on a separate floor of the building, and that space is expected to be ready ahead of the start of the first cohort in April.

"It's like having a one-stop shop of resources for the whole community in a central location," Cluzel says. "Since The Cannon is going to be among several coworking spaces in the community, we'll reach all areas of Houston, including Sugar Land, The Woodlands and Stratford and other neighborhoods"

Interested early-stage startups can apply online for the program until April 10, and the cohort begins on April 30. Only five companies are selected for the cohort, insuring individualized support and programming from gBETA. The free program is designed to equip its participating startups with early customer traction and preparation for later stage accelerators.

"I'm looking for a diverse cohort, encompassing underserved communities such as women, veterans and minorities," Cluzel tells InnovationMap. "I'm seeking highly unique, highly scalable businesses based in Houston. In Houston, we have a lot of venture capital firms that write huge checks, but we don't have a lot of investors that help with early seed-stage funding. We're looking for very early stage startups whose company we can help grow and connect with our local and national network of investors."

gBETA aims to act as a funnel to other accelerator programs, Cluzel says.

"We're looking forward to working cooperatively with other resources in town, such as Plug and Play, MassChallenge, The Founder Institute, Capital Factory, The Cannon, and other incubators, accelerators and resources."

The Cannon Houston's third location is planned to open on December 9. Photo courtesy of The Cannon

Photos: The Cannon Houston's downtown space expects to open its doors early next month

ready for liftoff

A Houston entrepreneurial hub plans to open its third coworking space location only a few weeks after its main campus debuted in West Houston.

The Cannon Houston's newest location will be a 17,000-square-foot space on the top floor of The Cannon Tower at Amegy on Main in Downtown Houston. The opening date for the new space is Monday, December 9.

The announcement follows the grand opening of The Cannon's 120,000-square-foot flagship space, which is now close to being completely leased by startups and small businesses, and represents another step in the company's ambitious expansion plan.

"We've long known that we will need multiple locations across Houston in order to serve our mission of supporting Houston's entrepreneurs, and we are thrilled to work with an incredibly forward-thinking organization like Amegy to continue to fulfill this mission," says Cannon founder and president, Lawson Gow, in a news release. "The Cannon Tower at Amegy on Main will be unlike any other space in the city, in which we will be developing a 'vertical village' of innovation, programs, and resources, transforming Amegy on Main into a hub for Downtown Houston's entrepreneurs."

Gow — who is the son of David Gow, owner of InnovationMap's parent company, Gow Media — recently transitioned into his position as The Cannon named Jon Lambert as CEO earlier this month.

The Cannon's space is just one part of the equation that is the Downtown Launch Pad — a joint project between Central Houston, Downtown Redevelopment Authority, The Cannon, and Amegy Bank. The Amegy building will also house MassChallenge and gener8or, as well as event and common space for programming on the 11th floor.

"Amegy Bank is thrilled to be a part of the expansion of the innovation community by offering space, amenities, and business development support," says Kelly Foreman, Amegy Bank's senior vice president and manager of corporate real estate and facilities, in a news release. "We have a long track record of helping businesses grow, and creating this space for a hub of start-ups and accelerators is yet another way to do just that."

Moving forward, The Cannon will play a role in expanding workspace, resources, and programming in the building. The space is now open for leasing, and the first 100 members to join the new space will receive free parking for the course of their membership.

Plans for growth

  

Photo courtesy of The Cannon

The Cannon Houston will be a major player as the Downtown Launch Pad expands throughout the building.

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9 can't-miss Houston business and innovation events for April

where to be

Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.

Texas university's innovative 'WaterHub' will dramatically reduce usage by 40%

Sustainable Move

A major advancement in sustainability is coming to one Texas university. A new UT WaterHub at the University of Texas at Austin will be the largest facility of its kind in the U.S. and will transform how the university manages its water resources.

It's designed to work with natural processes instead of against them for water savings of an estimated 40 percent. It's slated for completion in late 2027.

The university has had an active water recovery program since the 1980s. Still, water is becoming an increasing concern in Austin. According to Texas Living Waters, a coalition of conservation groups, Texas loses enough water annually to fill Lady Bird Lake roughly 89 times over.

As Austin continues to expand and face water shortages, the region's water supply faces increased pressure. The UT WaterHub plans to address this challenge by recycling water for campus energy operations, helping preserve water resources for both the university and local communities.

The 9,600-square-foot water treatment facility will use an innovative filtration approach. To reduce reliance on expensive machinery and chemicals, the system uses plants to naturally filter water and gravity to pull it in the direction it needs to go. Used water will be gathered from a new collection point near the Darrell K Royal Texas Memorial Stadium and transported to the WaterHub, located in the heart of the engineering district. The facility's design includes a greenhouse viewable to the public, serving as an interactive learning space.

Beyond water conservation, the facility is designed to protect the university against extreme weather events like winter storms. This new initiative will create a reliable backup water supply while decreasing university water usage, and will even reduce wastewater sent to the city by up to 70 percent.

H2O Innovation, UT’s collaborator in this project, specializes in water solutions, helping organizations manage their water efficiently.

"By combining cutting-edge technology with our innovative financing approach, we’re making it easier for organizations to adopt sustainable water practices that benefit both their bottom line and the environment, paving a step forward in water positivity,” said H2O Innovation president and CEO Frédéric Dugré in a press release.

The university expects significant cost savings with this project, since it won't have to spend as much on buying water from the city or paying fees to dispose of used water. Over the next several years, this could add up to millions of dollars.

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A version of this story originally appeared on our sister site, CultureMap Austin.

Texas female-founded companies raised more than $1 billion in 2024, VC data shows

by the numbers

Female-founded companies in Dallas-Fort Worth may rack up more funding deals and more money than those in Houston. However, Bayou City beats DFW in one key category — but just barely.

Data from PitchBook shows that in the past 16 years, female-founded companies in DFW collected $2.7 billion across 488 deals. By comparison, female-founded companies in the Houston area picked up $1.9 billion in VC through 343 deals.

Yet if you do a little math, you find that Houston ekes out an edge over DFW in per-deal values. During the period covered by the PitchBook data, the value of each of the DFW deals averaged $5.53 million. But at $5,54 million, Houston was just $6,572 ahead of DFW for average deal value.

Not surprisingly, the Austin area clobbered Houston and DFW.

During the period covered by the PitchBook data, female-founded companies in the Austin area hauled in $7.5 billion across 1,114 deals. The average value of an Austin deal: more than $6.7 million.

Historically, funding for female-established companies has lagged behind funding for male-established companies. In 2024, female-founded companies accounted for about one-fourth of all VC deals in the U.S., according to PitchBook.

PitchBook noted that in 2024, female-founded companies raised $38.8 billion, up 27 percent from the previous year, but deal count dropped 13.1 percent, meaning more VC for fewer startups. In Texas, female-founded companies brought in $1.3 billion last year via 151 deals. The total raised is the same as 2023, when Texas female founders got $1.3 billion in capital across 190 deals.

“The VC industry is still trying to find solid footing after its peak in 2021. While some progress was made for female founders in 2024, particularly in exit activity, female founders and investors still face an uphill climb,” says Annemarie Donegan, senior research analyst at PitchBook.

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