Heavy Duty Templaco 3/8in Hex-Drive quick-release drill adapter with a three sided 1/2in shank works like an air tool quick chuck.

Just pull back on the chrome plated sleeve, push the 3/8in hex end drill shank into the adapter and release the sleeve to lock the drill bit firmly into the adapter.

When you're ready to disengage the drill bit from the adapter just a simple pull on the sleeve releases the bit.