Bankloch

A few years ago everyone was predicting the end of the consumption-economy and the rise of the sharing (and in extension rental) economy. Today, we see definitely a rise in sharing and renting platforms and products as a service, but not to the extend it has significantly changed the regular economy. When looking at the sharing and rental economy, you can identify a number of elements, which psychologically push people still to possess their own goods, i.e. Convenience : when you are sharing (or renting) an item, you need to reserve it and there is no guarantee it will be available. At the same time, you need to go fetch the product (or get it delivered) and most likely you cannot fetch it 24/7, but rather only during office hours. Hygiene : with the Covid-19 crisis still fresh in everyone’s mind, sharing products has a hygienical risk. But apart from the risk of diseases, there is also the feeling you have no idea who used it before. Fear for damage : people fear when they rent someth...

  Many innovations start with a   group of believers (pioneers or early adopters) , who embrace and defend the new idea, product, service or technology almost like a religion. This often leads to heated debates and a strong polarisation between those believing that the innovation will transform the future and those who argue that the current mainstream way of doing is still better and that the new evolution will never become adopted by the masses. Often those confrontations are the result of the willingness of early adopters to overlook certain inconveniences (like bugs, instabilities, usability issues…​) associated with the innovation, i.e. they are willing to trade convenience for the experience of being disruptive and innovative. Other people, who do not share the same level of enthusiasm about the new evolution, can become frustrated due to the lack of criticism the early adopters show for the innovation. Obviously as these   innovations mature , the kinks are worked ...

The last couple of months my LinkedIn feed has been overwhelmed with posts about the new kid on the block called chatGPT. This gives the feeling that this AI-tool is already a mainstream tool known by everyone. Nonetheless when talking to friends and family less involved in IT or not working in the Tech sector, chatGTP appears still to be an unknown. Therefore I thought it might be interesting to give an   introduction to chatGPT for dummies , so let’s start with the basics. What is chatGPT? ChatGPT (abbreviation for   Chat   G enerative   P retrained   T ransformer) is a tool, based on a   large AI-based language model , which allows to generate   human-like text   (i.e. indistinguishable from text written by humans). The model,   trained on millions of texts found on the internet   (exact amount is not publicly known, but believed to be in the range of hundreds of billions of words), generates texts by adding each time the word which h...