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Happy Friday!

We asked ChatGPT to write us a joke in the style of Andrew Schulz :

How do you know if AI is lying?

Its lips are moving.

Rough…but it’s a start.

In today’s Morning Mashup:

Read time: 3 minutes

🏦 Hedge Funds Are Installing ChatGPT to Handle the Grunt Work

We've got some buzzworthy news to share from the intersection of AI and finance. Say hello to ChatGPT, a generative AI tool that's making waves in the world of hedge funds.

AI is stepping in to take on those tasks we all love to hate - the kind that involves pouring over endless market research, writing basic code, or summarizing fund performance. The beauty of this is that humans get to focus more on strategic thinking and decision-making.

Once these AI tools, like ChatGPT, get their "brains" filled with enough data, they will begin to tackle tasks once thought to be strictly human territory.

Take Man Group, for example. This heavyweight hedge fund is using ChatGPT to not just speed up research, but also to explain fund performance by making sense of complex market data and fund returns.

But let's not get carried away. Like any other tech, ChatGPT has its quirks. While it's shown some impressive feats (outperforming existing models in certain tasks), it's also had its hiccups, like the occasional made-up fact or inconsistent responses.

While the full impact is still a big question mark, the feeling is optimistic. I believe that this technology could be a real productivity hack for those who use it correctly.

🚨 Alibaba Begins Rollout of ChatGPT Style Tech 

In a surprising move, Alibaba, the well-known tech powerhouse, has recently launched a new large language model called Tongyi Qianwen.

Developed in the style of ChatGPT, Tongyi has a pretty cool trick up its sleeve: it can analyze multimedia content and generate text summaries from video and audio files. You can check it out for yourself. It is being integrated first into DingTalk, Alibaba's popular business messaging service.

Later this year, Alibaba plans to introduce a feature for real-time translation between English and Chinese for multimedia content, set to be a convenient plugin for your Chrome browser. Alibaba is not just going solo on this. They are partnering up with corporate cloud customers to build AI products tailored to each client's needs, all using the Tongyi Qianwen model as the foundation.

To give you a bigger picture, Alibaba's strides in AI come at a time when Chinese tech giants are doubling down on AI to navigate a slowing domestic economy and tighter regulations. Baidu, for one, is gearing up to release its own ChatGPT competitor, called Ernie Bot, just waiting for the green light from regulators. It’s the AI Olympics!

🌐 Elon Musk Accused of Insider Trading by Investors in DOGECOIN Lawsuit

Musk is no stranger to stirring up the crypto market, but things have taken a more serious turn as Dogecoin investors have filed a class-action lawsuit against him.

The charges?

• Insider trading and artificially inflating Dogecoin's price.

Investors are pointing to Musk's tweets about Dogecoin, his 2021 appearance on "Saturday Night Live", and his alleged use of paid online influencers as attempts to sway the market in his favor. they're also alleging that these actions lined the pockets of both Musk and Tesla through various wallets they own.

As if that wasn’t enough:

“Another One” - DJ Khaled

Investors claim that Musk sold $124 million worth of Dogecoin after swapping out the Twitter logo for a Dogecoin one, causing the coin's value to skyrocket.

This has us all wondering about the power of influencers in the wild west that is the crypto market and the impact public figures can have on a coin’s value.

🧰 Productivity Arsenal

• Aragon - Creates amazing headshots with AI (link)

• Video Highlight - Summarize and take notes from videos (Link)

• AE Studio - Custom software, machine learning, and BCI solutions (Link)

• Vimcal - AI assistant in scheduling and organization (Link)

• Liffery -  push-ad-free, AI-powered research assistant (Link)

Have cool resources to share? Submit a tool by replying to this email.

🐦 Tweet of the day

Be the hero of your own movie!

That’s all for now!

If you have any interesting projects or ideas please reach out to us by responding to this email or by sending us a DM on Twitter: @DerikVasquez & @MorningMillionaire

As always, thank you for your time, and see you soon.