Houston ranks among the top cities ready for the rise of artificial intelligence

Ready for it

Houston's ready for the artificial intelligence revolution. Yuichiro Chino/Getty Images

How ready is Houston for the rise of artificial intelligence? More ready than you might think.

In the recently released Global Cities' AI Readiness Index, Houston ranks ninth in the world among large cities (those with 5 million to million residents). Singapore topped the large-city list; Dallas appeared at No. 8.

"The age of technology is here, and we cannot afford to sit idle," Houston Mayor Sylvester Turner says in a recent release. "We must leap, not stroll, into the future."

The Oliver Wyman Forum, part of management consulting firm Oliver Wyman, based its AI ranking on surveys of residents and leaders in 105 global cities, along with a review of publicly available socioeconomic data. The group says its goal in compiling the ranking was to "start a data-informed conversation about how to address the very real opportunities and challenges of AI disruption."

"Houston has been working diligently over the past several years to grow a robust digital tech ecosystem," says Susan Davenport, senior vice president of economic development at the Greater Houston Partnership. "Previously, most surveys ranked Houston in the 30s in this area. When we see ourselves ranked ninth among large global cities and U.S. metros in AI readiness, it's a positive signal of our trajectory."

Signs of Houston's trajectory in the AI universe abound:

A 2019 survey by consulting giant Accenture found that 65 percent of business and IT executives in Houston were incorporating AI into their operations in some form or fashion.
In March, Turner announced creation of the Smart City Advisory Council, which is working on a roadmap for adopting technology, such as AI, that's meant to "make Houston a more attractive place to work, live, and innovate." The council is chaired by Elizabeth Brock, director of external engagement at CenterPoint Energy.
In May, Tachyus, a Houston-based startup that makes AI-fueled software designed to optimize production in the oil and gas industry, said it had raised $15 million in Series B funding.
This summer, Accenture announced it is doubling the size of its innovation hub in Houston that aims to help clients compete in the digital economy, with an emphasis on innovations such as AI, blockchain, drones, and virtual reality.
Through October 21, Capital Factory, a business accelerator with an office in Houston, is seeking applications from AI companies for a $100,000 investment from the Capital Factory Fund.

"When you think about Houston's core industries like energy, life sciences, and manufacturing, these are all data-intensive businesses that are ripe for disruption by AI and other digital technologies," Davenport says. "There is significant activity with AI already happening in the market, but I think we're still early on the growth curve, with a great deal of upside potential."

A recent search of job website LinkedIn found more than 200 AI-focused jobs available in the Houston area at employers like Shell, Accenture, Deloitte, Capgemini, HP, and EY.

Over the past year, the Greater Houston Partnership has led several trips to Silicon Valley to meet with companies involved in AI, cloud computing, and other technologies that enable businesses to harness the power of data.

"We are finding these innovative companies are very interested in tapping into the customer base here in Houston," Davenport says, "and we expect to see growth in this sector to continue over the next few years."

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Texas A&M awarded $1.3M federal grant to develop clean energy tech from electronic waste

seeing green

Texas A&M University in College Station has received a nearly $1.3 million federal grant for development of clean energy technology.

The university will use the $1,280,553 grant from the U.S. Department of Energy to develop a cost-effective, sustainable method for extracting rare earth elements from electronic waste.

Rare earth elements (REEs) are a set of 17 metallic elements.

“REEs are essential components of more than 200 products, especially high-tech consumer products, such as cellular telephones, computer hard drives, electric and hybrid vehicles, and flat-screen monitors and televisions,” according to the Eos news website.

REEs also are found in defense equipment and technology such as electronic displays, guidance systems, lasers, and radar and sonar systems, says Eos.

The grant awarded to Texas A&M was among $17 million in DOE grants given to 14 projects that seek to accelerate innovation in the critical materials sector. The federal Energy Act of 2020 defines a critical material — such as aluminum, cobalt, copper, lithium, magnesium, nickel, and platinum — as a substance that faces a high risk of supply chain disruption and “serves an essential function” in the energy sector.

“DOE is helping reduce the nation’s dependence on foreign supply chains through innovative solutions that will tap domestic sources of the critical materials needed for next-generation technologies,” says U.S. Energy Secretary Jennifer Granholm. “These investments — part of our industrial strategy — will keep America’s growing manufacturing industry competitive while delivering economic benefits to communities nationwide.”

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This article originally appeared on EnergyCapital.

Biosciences startup becomes Texas' first decacorn after latest funding

A Dallas-based biosciences startup whose backers include millionaire investors from Austin and Dallas has reached decacorn status — a valuation of at least $10 billion — after hauling in a series C funding round of $200 million, the company announced this month. Colossal Biosciences is reportedly the first Texas startup to rise to the decacorn level.

Colossal, which specializes in genetic engineering technology designed to bring back or protect various species, received the $200 million from TWG Global, an investment conglomerate led by billionaire investors Mark Walter and Thomas Tull. Walter is part owner of Major League Baseball’s Los Angeles Dodgers, and Tull is part owner of the NFL’s Pittsburgh Steelers.

Among the projects Colossal is tackling is the resurrection of three extinct animals — the dodo bird, Tasmanian tiger and woolly mammoth — through the use of DNA and genomics.

The latest round of funding values Colossal at $10.2 billion. Since launching in 2021, the startup has raised $435 million in venture capital.

In addition to Walter and Tull, Colossal’s investors include prominent video game developer Richard Garriott of Austin and private equity veteran Victor Vescov of Dallas. The two millionaires are known for their exploits as undersea explorers and tourist astronauts.

Aside from Colossal’s ties to Dallas and Austin, the startup has a Houston connection.

The company teamed up with Baylor College of Medicine researcher Paul Ling to develop a vaccine for elephant endotheliotropic herpesvirus (EEHV), the deadliest disease among young elephants. In partnership with the Houston Zoo, Ling’s lab at the Baylor College of Medicine has set up a research program that focuses on diagnosing and treating EEHV, and on coming up with a vaccine to protect elephants against the disease. Ling and the BCMe are members of the North American EEHV Advisory Group.

Colossal operates research labs Dallas, Boston and Melbourne, Australia.

“Colossal is the leading company working at the intersection of AI, computational biology, and genetic engineering for both de-extinction and species preservation,” Walter, CEO of TWG Globa, said in a news release. “Colossal has assembled a world-class team that has already driven, in a short period of time, significant technology innovations and impact in advancing conservation, which is a core value of TWG Global.”

Well-known genetics researcher George Church, co-founder of Colossal, calls the startup “a revolutionary genetics company making science fiction into science fact.”

“We are creating the technology to build de-extinction science and scale conservation biology,” he added, “particularly for endangered and at-risk species.”

Houston investment firm names tech exec as new partner

new hire

Houston tech executive Robert Kester has joined Houston-based Veriten, an energy-focused research, investment and strategy firm, as technology and innovation partner.

Kester most recently served as chief technology officer for emissions solutions at Honeywell Process Solutions, where he worked for five years. Honeywell International acquired Houston-based oil and gas technology company Rebellion Photonics, where Kester was co-founder and CEO, in 2019.

Honeywell Process Solutions shares offices in Houston with the global headquarters of Honeywell Performance Materials and Technologies. Honeywell, a Fortune 100 conglomerate, employs more than 850 people in Houston.

“We are thrilled to welcome Robert to the Veriten team,” founder and CEO Maynard Holt said in a statement, “and are confident that his technical expertise and skills will make a big contribution to Veriten’s partner and investor community. He will [oversee] every aspect of what we do, with the use case for AI in energy high on the 2025 priority list.”

Kester earned a doctoral degree in bioengineering from Rice University, a master’s degree in optical sciences from the University of Arizona and a bachelor’s degree in laser optical engineering technology from the Oregon Institute of Technology. He holds 25 patents and has more than 25 patents pending.

Veriten celebrated its third anniversary on January 10, the day that the hiring of Kester was announced. The startup launched with seven employees.

“With the addition of Dr. Kester, we are a 26-person team and are as enthusiastic as ever about improving the energy dialogue and researching the future paths for energy,” Holt added.

Kester spoke on the Houston Innovators Podcast in 2021. Listen here

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