- Marty Chavez, a current member of Alphabet’s board of directors, held pivotal roles at Goldman Sachs as CFO, CIO, and international co-head of stocks, overseeing computational trading—a pioneering AI execution strategy.
- With a Stanford Ph.D., Chavez believes we are well advanced in the evolution of artificial intelligence, stating that we are “well into the second half of the game” in terms of exponential growth in this field.
- During the previous year’s CNBC Work Summit, Chavez, now a private investor, offered practical advice to employees and businesses on adapting to the era of conceptual AI.
Marty Chavez, a former CEO of Goldman Sachs and global co-head of assets, has extensive experience with AI beyond computational trading, where the technology initially gained traction in the market. Holding an MBA from Stanford with a specialization in AI in healthcare and computer technology.
At the CNBC Work Summit last year, Chavez, now the owner of his private investment firm Sixth Street and a board member of Alphabet, emphasized his deep dive into the realm of AI amidst the hype surrounding recent advancements.
Drawing an analogy to a game circle where each square doubles the grains placed, Chavez remarked, “We’re well into the second half of the board.” He highlighted the exponential growth of data and the increasing speed of servers, emphasizing the unprecedented opportunities in the field of computer science.
The transformative impact of AI on industries and job roles was discussed at the CNBC Work Summit by Harvard professor Arthur Brooks. He suggested that AI would not merely replace tasks but reconfigure and innovate them, reshaping white-collar functions significantly amid the robotics revolution.
PwC is launching its specialized ChatPhC for 75,000 North American employees this quarter, reflecting the increasing integration of AI in the workplace. Joe Atkinson, PwC’s chief products and technology officer, acknowledged the significant shift brought about by AI, with the company’s internal “AI shop” generating over 3,000 use cases within six months.
At the recent CNBC CFO Council Summit in Washington, D.C., CEO Eric Kutcher highlighted McKinsey’s AI system, Lilli, which streamlines tasks for 45,000 workers, reducing timeframes from weeks to minutes.
Chavez, foreseeing challenges for professional service firms in adapting to AI, advised a proactive approach to redefining service delivery and task management. He outlined three career paths for navigating the AI landscape, particularly targeting younger individuals.
Overview of the Three AI Career Paths
Chavez outlined the first career path as becoming proficient in instructing computers—a role he finds intriguing and essential in the AI era.
The second path involves collaborating with computer experts to enhance productivity using tools and technologies, a strategy Chavez observed being successfully employed on Wall Street.
The third path, discouraged by Chavez, involves resisting automation efforts out of fear of job displacement, a stance he believes is counterproductive in the evolving landscape of AI.
Chavez stressed the importance of leveraging AI tools to optimize workflows and enhance productivity, urging companies to evaluate their processes and consider implementing AI-driven solutions across various operations.
