Marty Chavez was a celebrated name in Goldman Sachs. When he left the place, everyone assumed Chavez was moving on to a sweeter deal in another financial corporation. They could not be more wrong. See, at Goldman Sachs, Chavez was the CIO, and had many thoughts about software and how it would progress.
Chavez notes how software is famous for going in cycles, and how one thing that has been constant in the software business is a paradigm shift that occurs every 20 years.
For instance, he notes how we went from mainframes to personal computing. Now, we’re in the cloud computing era, where we have mainframes that are “dematerialized” allowing one to access it via the internet.
That means that now we can create applications that rely on cloud computing without having to incur substantial startup costs that range over $50 million. The situation has changed. Remember, that’s why you have the rise of startups such as Uber, which would have meant a significant investment in the early days just for the infrastructure.
The cloud gives access and opportunity democratizing creation even further. That’s one more reason why AWS was such a big deal, but no one knew why at the start. We know that is also why we have heated competition among Microsoft, Google, and Amazon to be a prominent provider of these computing solutions.
The cloud allows you to worry about pleasing the customer instead of worrying about infrastructure.
Chavez has also talked about how open source has helped to create many different valuable contributions to the business environment.
He thought about these aspects because he needed to understand how these different paradigm shifts would affect the world, Goldman Sachs, and his clients.
Remember that Chavez was thinking about the cloud back in 2014, guess what he’s thinking about now, artificial intelligence and how we can use it to fight cancer.
Chavez and Paige
Yes, it turns out that Marty Chavez switched industries altogether. From finance to healthcare tech as a board member of Paige. Paige is a tech startup in New York that uses AI to offer a better treatment plan to patients suffering from cancer.
Paige notes that it is “an AI-native digital pathology ecosystem that augments the Pathologist, accelerates new biomarker discovery, and is built for new insight generation.”
But why is Marty going to Paige?
His time spent at Goldman Sachs is invaluable to Paige. He was able to interact and work with teams that would look at stock markets how it would react to tech startups that use AI. With the help of Chavez, Paige has made a deal with Memorial Sloan Kettering Cancer Center to learn from the 25 million records they have on patient pathology, which can teach the AI models to execute genomic sequencing, for example.
Chavez is curious about the future and comments to Forbes on how this technology and process works. With the AI model of the human tissue, it became possible to experiment on these models through different software, ensuring the next one is more targeted and personalized than the one before it.
Marty completed a doctorate on Medical Information from Stanford. He is a firm believer in technology, changing the landscape of an industry. Even when he was at Goldman Sachs, he advocated tirelessly for the financial institution to become more efficient in its approach to routine tasks by using automation and coding.
Jim Breyer, a venture capitalist, invested in Paige and told Chavez about the startup. Paige raised more funds to bring about their solution to market in a more accelerated fashion.
Confluence of Tech, Finance and Progress
These sort of integrations are even more important because it shows that software is eating the world and that related skills will become more important in this new era.