5/5 (1)

In this blog, I will only focus on the university education system which is the lecture-based one that we are currently following in our master’s. We, the students, listen to lecturers, the course teachers, with the goal of capturing knowledge that would be valuable for our future.  We will sit in a lecture hall for three hours, sometimes with very few interactions. Then we will have some assignments, and the course will end with a written exam. That same education system structure is almost exactly the same as 800 years ago. I think this will change and adapt to new emerging technologies such as GenAI (Giftedmagazine, 2024).

My first-ever use of GenAI was mind-blowing to me, I had the opportunity to spend less time on my written assignments. New ideas would come to mind just by brainstorming with ChatGPT. It became way more efficient to rely on it entirely when doing small written projects. On top of that, all my questions could be answered easily and in no time.

But with such technologies can our educational system stay the same as it is? I don’t think so, I think it needs to adapt, it will need to learn how to leverage the power of GenAI. For instance, that is what happened at first with computers in the classroom, individuals were against the idea of using such machines. However, nowadays a majority of students will use a computer in a lecture hall.  The same could be said about GenAI.  Most teachers are against using ChatGPT as a source of information or relying on it for writing text such as this blog for example. I could have probably prompted a text like: “Create a well-written post blog in 300 words that has a strong positive opinion on GenAI and the current educational system”. ChatGPT would have probably done a good job in writing such text in less than 5 seconds.

Is there still a place for such assignments in the future?  Where is the educational system going? Is it about to shift drastically because of this new emerging technology? Or resist and keep it as it is right now?  

Giftedmagazine. (2024, January 19). The History of Lectures: Evolution and Significance. Medium. https://giftedmagazine954.medium.com/the-history-of-lectures-evolution-and-significance-in-education-5650571633d0

5/5 (1)

Revolut saved my life more than once. While doing a semester abroad, my bank account would have been totally different without Revolut. For those unfamiliar with the app, it identifies as an “All-in-one Finance App for your Money” (Thornhill, 2024). And it has some pretty interesting aspects.

Revolut’s key features provoked a wave of disruptive innovations in the traditional banking industry. Some innovative features are multi-currency accounts, cryptocurrency integration, budgeting and analytics and global ATM access (ProductMonk, n.d.).  But the biggest innovation that Revolut brought is their user-centric approach. The application prioritizes user experience, with a focus on a user-friendly mobile app that enables customers to easily handle their finances, monitor spending, and establish budgeting and saving goals (Overload, 2024). From my experience, I find it incredibly easy to understand and use the different features of Revolut. Interestingly, during my semester abroad, I had access to the local currency with no supplementary fees, as if I had just opened a local bank account.

In 2024, Revolut reached over 45 million customers worldwide which was 38 million back in 2023 (Boyle, 2024). On top of that, the fintech firm has been evaluated at $45 billion which makes them the most valuable private company in Europe (Emanuel-Burns, 2024b). In contrast, the number one bank in France is valued at $12.3 billion (Statista, 2024).

Revolut is changing the banking industry and how, we, consumers interact with it. I believe that traditional banks will still be present in the future but will change, adapt and offer more features to remain competitive. Are we witnessing the downfall of an established system or the rebirth of traditional banking in a digital era?

References:

Boyle, M. (2024, August 8). Revolut statistics: Revenue, number of customers and market share. Finder UK. https://www.finder.com/uk/digital-banking/revolut-statistics

Emanuel-Burns, C. (2024b, August 20). Revolut becomes Europe’s most valuable private tech firm after $500m employee share sale. FinTech Futures. https://www.fintechfutures.com/2024/08/revolut-becomes-europes-most-valuable-private-tech-firm-after-500m-employee-share-sale/#:~:text=News-,Revolut%20becomes%20Europe’s%20most%20valuable%20private%20tech,%24500m%20employee%20share%20sale&text=UK%20challenger%20Revolut%20has%20become,provided%20liquidity%20to%20its%20employees

Overload, D. (2024, April 23). Disrupting Finance: A Deep Dive into Revolut and Its Innovative Business Plan. Medium. https://medium.com/@data-overload/disrupting-finance-a-deep-dive-into-revolut-and-its-innovative-business-plan-db67f8705d90#:~:text=Revolut’s%20innovative%20business%20plan%20has,attracted%20millions%20of%20users%20worldwide

ProductMonk. (n.d.). Revolutionizing Finance: Revolut’s impact on the banking industry. Product Monk. https://www.productmonk.io/p/revolutionizing-finance-revoluts-impact-banking-industry

Statista. (2024, May 22). Ranking of BNP Paribas and Société Générale banks in 2015-2024, by brand value. https://www.statista.com/statistics/417133/brand-value-of-leading-french-banks/

Thornhill, J. (2024, September 9). Revolut Review 2024. Forbes Advisor UK. https://www.forbes.com/uk/advisor/banking/revolut-review/