The material decides the bit
Wood, metal and masonry
For wood, metal and masonry you usually use bits with a cylindrical shank in a standard drill. Each material has its own bit geometry, so the same bit rarely does everything well.
Concrete
Concrete needs an SDS bit and a rotary hammer. An SDS shank is not “universal” and does not belong in a standard chuck.
Large holes — hole saws
Hole saws and similar solutions are for large openings — cables, pipes, plasterboard structures. If you only need a 6–10 mm hole, a hole saw is overkill.