Gustaw Szarek

AI Hallucinations. Yesterday I have participated in the AI Summit organized in Warsaw. Some of the topics discussed there were the Large Language Models (LLMs) such as ChatGPT or MS Copilot. While preparing for the conference I have prompted Chat GPT to summarize a book by myself, titled "Economy and Society" In reply I have received the below: "Jacek Wojciechowicz's Economy and Society delves into the intricate relationship between economic systems and societal structures, examining how they influence each other. The book explores the role of institutions, cultural norms, and political frameworks in shaping economic development and social behavior. Wojciechowicz also highlights the impact of globalization, technological changes, and market dynamics on the evolution of both economy and society." Great))) However, such a book , authored by myself was never written and does not exist. So, instead of getting the answer " I don't know such a book" I have received a splendid example of AI hallucinations. Be aware!!! #ChatGPT #AIhallucinations

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GREEN.. to Energy Transition

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In 2014 we started implementing Lean in Electricity Distribution in Ukraine. At that time these companies had 10% of European Productivity, everyone was paid a bonus disregarding the results. In few years after implementation of Lean together with Kalayda Alexey and Artur Kravets, MBA we managed to get: 1. Reduction of electricity losses (technical and commercial) under the allowed threshold 2. Reduction of debt 3. Improved work ethics and discipline Hope these examples would be interesting for Western Balkan!

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Curious about the current market landscape in Central and Eastern Europe? Wondering what opportunities exist for investors and what the biggest hurdles are for climate tech entrepreneurs in the region? How important is it for CEE projects to be part of the broader EU value chain? We’ll be diving into these questions and more at our panel this week! Join me at the session "Made in Central and Eastern Europe: financing cleantech manufacturing," organized by EIT InnoEnergy in partnership with the EBRD on 12 June at the EU Sustainable Energy Week in Brussels. EU SEW 2024 is set to lead the conversation on energy transition. As we turn our focus towards the industrial pillar of Europe's #GreenDeal, CEE is emerging as a key region to boost the EU’s cleantech manufacturing capabilities. With our strong industrial base and skilled workforce, CEE has the potential to become one of Europe’s main manufacturing hubs. I'll be sharing insights along with: - Krzysztof (Chris) Bolesta, Deputy Minister for Climate and Environment, Poland - Ela Yilmaz, Principal Manager Climate Strategy and Delivery team at EBRD - Martina Blahova, CPA, CGA, FCCA, CFO at Euro Manganese Inc. - Nemanja Mikac, CEO, ElevenEs Moderator: Ilka von Dalwigk, Policy & Market Intelligence at the European Battery Alliance. 📅 Date: 12 June 2024 🕓 Time: 16:30 to 18:00 📍 Location: Martin's Hotel, Brussels and online Don't miss out! Register and be part of the conversation.

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📢 Exciting Insights into CEE Venture Capital Trends! We've been exploring the evolving landscape of venture capital in Central and Eastern Europe (CEE), and the data is incredibly promising! Here are some highlights: 🌟 Emerging VC Powerhouses: Poland, the Czech Republic, and Turkey are stepping up as major hubs for venture capital activity. These regions are becoming hotspots for innovation and investment. 💡 Fund Explosion: Over 45 new VC funds have launched in the past three years alone, signaling strong confidence in the region's startup ecosystem. 🚀 Startup Efficiency: CEE startups are leading the way in capital efficiency, achieving significant revenue milestones with 40% less capital compared to their Western European counterparts. However, challenges persist: the region faces a growth-stage funding gap, with a scarcity of investors willing to write €10M+ checks. Scaling founders, we see you, and we understand the hurdles you’re navigating! 💼 Let’s bridge this gap and drive the next wave of innovation in CEE. Your thoughts? #CEEStartups #VentureCapital #StartupFunding #PolandStartups #CzechRepublicInnovation #TurkeyTech #CEEGrowth #ScalingChallenges #EfficientStartups #GrowthStageFunding #VCTrends

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🔋 This week I had a pleasure to take part in very insightful Energy Storage Summit Central Eastern Europe organized by NGEN and Polskie Stowarzyszenie Magazynowania Energii PSME//Polish Energy Storage Association PESA in Warsaw. ⚡ It was a great fun to moderate one of the panels "New Revenue Streams Unlocked: The Market Outlook" where together with Jakub Kupcu Daniel Świrydziuk Dariusz Perkowski Thomas Gilles we had discussed one the most important topics for the further #BESS technology development in Poland. Our agenda was: 1.       Capacity market auctions 2.       Wholesale arbitrage 3.       Ancillary services 4.       Bankability 5.       BESS working together with RES (wind, PV) on same grid connection 6.       Revenue stacking, and evolution of the revenue mix between the sources, and any additional / different sources we see abroad that may come in to Poland in the future 🎸 Plenty of representatives of top energy industry players from whole world showed up. ❓ I was multiple times asked what is going on today in Poland with #BESS market. 📒 I have provided more of less the below answer. ⚡ Given the current relatively high level of installed PV capacity compared to wind, and considering the limits of transmission and distribution networks, there is an essential need to stabilize the supply side and provide more flexibility on the demand side of the Polish electrical power system . The development of energy storage can largely meet this need. (as is in may other countries worldwide these days) 💵 This, in turn, makes the revenue forecasts and assumed IRRs from BESS technology potentially very attractive. 🛍 Investors are drawn to Poland, having recognized the potential attractiveness of investing in energy storage in the country, such as: 1)       existing capacity market auctions, 2)       the launch ancillary services market in June this year, 3)       increasing daily energy price volatility, 4)       the start of various government programs (preferential loans from the National Recovery Plan or subsidies from National Fund for Environmental Protection), 🥇 It is also worth noting that similarly to other market where BESS has already been deployed we are potentially dealing with a first-mover advantage, i.e., the first energy storage facilities to work in the system in (its near term shape) are expected to achieve the highest revenues in the first years of operations, which in turn could significantly improve the IRR on those investments. #BESS Polskie Stowarzyszenie Magazynowania Energii PSME//Polish Energy Storage Association PESA

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📢I had the pleasure, together with Maciej Cwikiewicz and Grzegorz C. in Puls Biznesu, of discussing the chances of Polish #AI companies to obtain funding from #VCs and, more broadly, to build a new #flywheel for our economy. According to a recent Dealroom.co's report, the AI Core startups received 45% of all VC investment in the CEE region. This is an opportunity we cannot miss!💥 My key theses: 📌At Movens Capital, we are investing in AI-enabled companies starting in 2019 based on our previous startup experience. They distinguish the #CEE region. By 2023, more than 1,000 AI/ML startups had emerged here, raising more than USD 4 billion in funding. 📌We see a great opportunity for Polish AI startups to succeed due to their unique technological talent. Building a sustainable #competitiveadvantage is key, as illustrated by ElevenLabs, but also examples from our portfolio, such as Talkie.ai or SKY ENGINE AI. 📌 The current stagnation in the VC sector has led to lower startup valuations, benefiting funds in executing transactions. In Poland, VC fund conditions will remain favorable in the coming years, but careful selection of AI companies is necessary, as most new entities have little chance of building lasting entry barriers. Thank you, Anna Bełcik, for taking on an important topic and inviting us to talk. 👉 https://lnkd.in/dxtGvvD7

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The Distribution of Tech Deals in CEE in H1 2024   Poland continues to lead in the number of deals, driven by its robust entrepreneurial history, substantial size, and strategic focus on early-stage startups. This approach, which supports accelerators and funds VCs, has created a dynamic investment ecosystem. The diverse range of deals, from major investments like Eleven Labs (the latest unicorn) to numerous smaller rounds, highlights Poland’s prominent position as a hub for entrepreneurial activity and investment in the CEE region. Following Poland, the Czech Republic stands out as the most prolific country after the total value of the funding rounds. It is ranked 6th globally, in terms of economic complexity and sophistication, reflecting its advanced investment environment. Romania, Greece, and Hungary furthermore exhibit significant growth in economic complexity. Hungary, in particular, has made a substantial leap, now ranked 11th globally in the Economic Complexity Index (ECI), up from 23rd in 2000. #eCommerceGrowth #CzechMarket #GlobalBusinessTrends #MarketInsights #DigitalEconomy #CAGR2024 #HobbyAndLeisure #RetailTrends #MarketExpansion #OnlineRetail

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Only one in four companies assesses its back office departments as highly effective. A similar percentage indicates the problem of isolating these functions within the organization, and half of respondents emphasize that corporate service priorities are poorly integrated with the company's strategic goals. I encourage you to read the new KPMG Poland report "Future of Corporate Services," in which I, along with Andrzej Gałkowski and Piotr Jarosz, present our point of view. https://lnkd.in/dup3yjrd #KPMG #GBS #SSC #BusinessServices

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I had the opportunity to briefly comment in the latest PB on what I think are the reasons for quite a solid representation of companies from the Baltic countries in the renewable energy industry in Poland. I invite everyone who is close to the renewable energy industry, works with or for these companies, to discuss whether you think this representation is actually above average or if you think there are any other reasons? This may be a bit off the core questions we are asking ourselves today regarding future of the energy market in Poland but sometimes such can lead to quite interesting observations and inspirations :) Deividas Varabauskas Darius Sagatauskas Enrique Gomez de Priego Fernandez Vytenis Susinskas, CFA Donatas Kundrotas Mantas Auruskevicius Kinga Kruczek Maciej Kowalski Jacek Wojerz Slawomir Sas Wojciech Chyłek, EMBA, Piotr Biernacki, CFA Kristjan Endrikson Łukasz Musiałkiewicz Ruslanas Sklepowicz https://lnkd.in/dHfeA7MX

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20% of the Polish workforce is engaged in jobs that could be easily replaced by AI, according to the latest report by the Polski Instytut Ekonomiczny. People with higher education will be more affected. Wealthier voivodeships will have more individuals who will need to reskill. It's interesting to see the challenges that lie ahead for the well-educated and well-positioned. A new way of equalizing opportunities? It could be, if women would be not among the more vulnerable groups. Here is the report (in Polish): https://lnkd.in/d3ussfCi

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I’m honored to be among the Most Influential Energy Executives in Hungary 2024, according to BBJ - Budapest Business Journal. In the interview I was emphasizing the importance of cooperation between European countries - also in CEE - regarding energy transition. Focusing solely on security of supply and trying to close ourselves off will never result in an economically optimal solution, therefore hit affordability both on residential and industrial levels. So let’s rather solve this challange together and follow the already existing good examples like InGrid, Gabreta and ADEX - just to name a few! #energytransition #sustainability #bbj #ceeenergy #bcg

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In my statement for Newsweek Polska, I pointed out that the next step in the development of topologies for electrical-electronic (E/E) architectures will be the further shift to zonal systems. Case in point: Tesla is making this exact move. And in accordance with my predictions, they’ve made updates and function management so much simpler. The Tesla Model 3 has cut down total cable length to 1.5km, aiming for just 100m, reducing both weight and cost. Zonal ECU controllers speed up communication and central management. Chinese manufacturers like NIO and XPENG are keeping up with, and sometimes even outpacing, Tesla in some areas. This competition is driving incredible innovation across the industry. Tesla is constantly pushing boundaries and revolutionizing automotive technology. Join us and follow these exciting changes in the industry! What automotive innovations are you most excited about? Share your thoughts in the comments! 👇 #Innovation #Automotive #Tesla #EV #Technology

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Capgemini has released its World Energy Markets Observatory (WEMO) report for 2024, painting a clear picture of the challenges ahead for the global energy transition. ⚡️  🟠 Despite encouraging advancements, particularly in renewable energy, the pace of change is still too slow to meet critical decarbonization goals. The report underlines that while progress has been made, much more is needed to reach net-zero emissions by 2050.  🟠 Key insights from the report include the need to significantly accelerate renewable energy deployment, refine how we measure clean energy progress, and prioritize new technologies like hydrogen and Small Modular Reactors (SMRs).  🟠 Additionally, the report stresses the importance of modernizing power grids to handle the increased demands of renewable energy integration and highlights the impact of geopolitical uncertainties on global energy markets.  The WEMO report not only outlines these challenges but also offers actionable strategies to address them. With the window for effective climate action narrowing, the question remains: How can industries and governments collaborate to speed up the transition?  Explore the full report to uncover solutions that could reshape the future of energy. Is your organization ready to contribute to the change? 🤔  #Capgemini #raport #trendy #GetTheFutureYouWant 

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Why choose invest in Africa. Provide top potentials rich ressources. Not only export products but, operate and transfer technology to achieve the goals growth of investors. Africa is rich in natural resources, including minerals, oil, gas, and agricultural land. These resources can offer significant investment opportunities in industries such as mining, energy, and agriculture. 2. Growing Population: Africa has a young and rapidly growing population. By 2050, it is projected to be home to approximately 2.5 billion people. This expanding consumer base can drive demand for various goods and services, creating investment prospects in sectors like retail, healthcare, and education. 3. Urbanization and Infrastructure Development: As African economies continue to grow, there is a demand for improved infrastructure, including roads, bridges, ports, and utilities. Investments in these areas can lead to long-term benefits and potential returns. 4. Economic Growth and Emerging Markets: Several African countries have been experiencing significant economic growth rates in recent years, outpacing some more established economies. This trend creates opportunities for investors to tap into emerging markets and capitalize on the continent's potential. 5. Trade and Investment Agreements: Many African countries have entered into trade agreements with other regions, fostering economic cooperation and reducing trade barriers. These agreements can create a more favorable investment environment and access to larger markets. 6. Untapped Consumer Markets: With rising middle-class populations in many African countries, there is an increasing demand for consumer goods and services. Investors can target these markets and benefit from the potential growth in consumer spending. 7. Technological Advancements: The tech industry in Africa has been growing steadily, with increased mobile and internet penetration. This presents opportunities in areas like fintech, e-commerce, and telecommunications. 8. Agricultural Potential: Africa has vast areas of arable land, making it a potential agricultural powerhouse. Investments in agriculture can not only yield profits but also contribute to food security and rural development. 9. Government Incentives: Many African governments are actively promoting foreign investment through various incentives, tax breaks, and business-friendly policies. These measures can make investing in Africa more appealing to investors. 10. Diversification: Investing in Africa can provide diversification benefits to a global investment portfolio. As African markets are less correlated with developed markets, investments in the continent can help reduce overall portfolio risk. It is time to acte, join us to atrract these opportunities that is rich.

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Poland's renewable energy transformation demands not only vast investments but also innovative financial frameworks that attract private capital—a sentiment echoed by recent insights from the Ministry of Climate and Environment. With estimates placing the cost of transitioning the economy to renewable energy at nearly PLN 1.6 trillion by 2040, it's clear that mobilizing private capital will be essential to achieving these ambitious goals. This shift isn’t merely about energy generation; it's also about energy storage, which remains a cornerstone for grid flexibility and stability as Poland increases its reliance on renewables. At enzum, we understand the critical role that energy storage solutions play in balancing supply and demand fluctuations. As the government develops strategies to make capital investments in energy transformation more accessible, Enzum is prepared to support this vision. We invite private investors, innovators, and policymakers to collaborate with us to drive sustainable solutions and contribute meaningfully to Poland’s renewable future. https://lnkd.in/eRz4HStD

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Raen S.A. with its partner ExMetrix Sp. z o.o., AI algorytm based modeling platform, are happy to share some knowladge about the Energy Market in Poland. Will do regularly so stay tuned for more in upcoming weeks. The significant increase in energy prices in the balancing and wholesale market since the introduction of the auction system on June 14, 2024, can be attributed to a combination of factors that have affected the supply and demand dynamics of the energy market. Here's a detailed explanation of the reasons behind the high energy prices, particularly during the evening peak times: 1. **Introduction of the Auction System**: The shift to an auction-based system for the balancing market may have introduced new dynamics in price setting. Auction systems can lead to higher prices, especially if there is a scarcity of supply or an increase in demand, as participants bid competitively to secure the necessary energy resources. 2. **Shortage of Bids for Evening Peak Energy**: The evening peak is typically a period of high demand as residential and commercial activities peak. If there are not enough bids from energy providers to meet this demand, the basic economic principle of supply and demand kicks in—limited supply plus high demand equals higher prices. 3. **Lack of Infrastructure Preparedness**: Not all generators were able to prepare their infrastructure for the new regulations in time. This lack of preparedness means that there is less competition and fewer bids in the market, which can drive up prices due to the reduced supply. 4. **Renewable Energy Sources (RES) Units Registration Issues**: RES units, which can often provide cheaper energy, have faced challenges in registering as providers of balancing services (DUB). Without the participation of these units, the market loses a segment of potentially lower-cost energy, contributing to higher overall prices. 5. **PSE's Processing of DUB Registrations**: PSE (Polskie Sieci Elektroenergetyczne or Polish Electricity Networks) is currently focused on processing applications for DUB registration and conducting tests of technical and IT infrastructure. This administrative bottleneck means that new suppliers are waiting to enter the market, which temporarily reduces the supply of available energy for balancing purposes. 6. **Technical and IT Infrastructure Testing**: Ensuring that the technical and IT infrastructure is up to par is crucial for the smooth operation of the auction system. Delays or issues in this area can further contribute to the scarcity of supply as potential providers are unable to participate effectively in the market. In summary, the high energy prices in the balancing and wholesale market are a result of a confluence of factors related to the transition to an auction system, supply shortages during peak demand periods, infrastructure readiness issues, and administrative delays in processing new market participants. #RES #greenenergy #energyprice See below graph👇

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In anticipation of welcoming Maciej Markowicz of Danmar Computers and Djordje DJOKIC of Privanova at #PMAgora discussing the latest #technologies in the #project #management process. PM Agora is the only event dedicated to the professional development of #european project managers. Don’t miss it. #projectmanagement #eufunds #eufundedprojects #AI #digitaltools

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