AI-powered personal finance is here: for better and for worse

Financial advice at your fingertips is by no means a new innovation.

Yet with the rise of artificial intelligence, getting insights about your money has been taken to new heights of potential benefit — and dangers.

“There is a lot of upside to using AI, especially for budgeting, and it’s often good as a first draft for anything you want to do,” says Monisha Sharma, Toronto-based chief revenue officer at Fig Financial, which provides consolidation, home improvement and unsecured loans.

Fig has some insight on AI’s benefits. The fintech company leverages AI technology to make loans quickly to Canadians, but its use case is contained to Fig’s own specific data to ensure a low error rate.

McGill University team develops AI that can detect infection before symptoms appear

MONTRÉAL - Researchers at McGill University say they developed an artificial intelligence platform that can predict when someone is about to come down with a respiratory tract infection before they start to feel sick.

In what researchers are calling a "world first," the study involved participants who wore a ring, a watch and a T-shirt, all of which were equipped with censors that recorded their biometric data. By analyzing the data, researchers were able to accurately predict acute systemic inflammation — an early sign of a respiratory infection such as COVID-19.

Published in The Lancet Digital Health, the study says the AI platform can one day help doctors address health problems much earlier than they normally would, particularly in patients who are fragile and for whom a new infection could have serious consequences. It could also potentially reduce costs for the health-care system by preventing complications and hospitalizations.

"We were very interested to see if physiological data measured using wearable sensors … could be used to train an artificial intelligence system capable of detecting an infection or disease resulting from inflammation," explained the study's lead author, Prof. Dennis Jensen of McGill University's department of kinesiology and physical education.

Winnipeg’s transit system has changed. Here’s your survival guide.

Winnipeg Transit's bus network is undergoing a complete transformation on June 29. The Free Press has created a survival guide to help you navigate the new system.

Keeping fur babies fed in a fire zone

FLIN FLON — Harley Eagle became an expert at breaking into houses during the month-long evacuation of this northern community as a wildfire raged nearby.

However, he had the homeowners’ permission.

While 5,100 Flin Floners waited out the fire in southern Manitoba, Eagle and his wife, city councillor Judy Eagle, offered to stay behind and feed animals that didn’t make the trip with their owners.

“It was groundhog day every day. You get up at 5:30 a.m., go to the community hall, make the coffee and then that’s when you start caring for all the animals,” he said Wednesday afternoon, as residents slowly made their way back to their homes and pets.

Animal Services asks for help building sensory garden

The City of Winnipeg is counting on dog lovers to make life easier for furry companions who end up in its shelter.

Jennifer Medlicott, the communications co-ordinator at the Animal Services Agency, said there’s a desperate need to create a sensory garden in the facility’s outdoor play yards. The agency, at 1057 Logan Ave., generally houses more than two dozen dogs at a time.

“We’re just looking for opportunities to make the lives of the animals in our care better and I just think we just saw an opportunity,” said Medlicott on Friday. “We dream of a future where we have a large-scale transformation, but we were also trying to look at some short-term solutions and that’s where the sensory garden came up.”

A sensory garden is an area designed to stimulate one or more of the five senses: sight, smell, sound, taste and touch. It incorporates trees, flowers, and any other elements in nature to help reduce stress.

More than 7,000 elms felled in Winnipeg last year due to disease

A city report reveals elm trees were chopped down more than expected last year due to Dutch elm disease.

‘I hope that we don’t lose the town’: Snow Lake residents get mandatory evacuation order

Another wildfire-threatened town in northern Manitoba began a mandatory evacuation Friday, while a 140-kilometre-long blaze threatened multiple communities in two provinces and put evacuees on tenterhooks.

Snow Lake, home to about 1,100 people, ordered residents to get out before noon Saturday and head to an evacuation reception centre in Winnipeg if they need a place to stay.

“I put the sprinkler on my home, and locked the door and left,” resident Caroline Denby told the Free Press during her roughly seven-hour drive to Winnipeg. “I hope that we don’t lose the town. Everybody getting out is the main thing. I really trust our (fire) crew, and believe they’re really wonderful at what they do.”

Town officials started planning for a potential evacuation as early as about two weeks ago. A voluntary evacuation began Tuesday. Denby was ready to go when it became mandatory.

‘Pray for rain’: wildfire races toward Flin Flon

Premier Wab Kinew urged Manitobans to remain calm Friday, a pivotal day in the war on wildfires in which shifting winds sent flames bearing down on Flin Flon, more people had to be evacuated from more communities and desperately needed resources were promised by the United States.

“Keep calm and carry on,” Kinew told an afternoon news conference at the legislature.

He said the threat to Flin Flon, about 830 kilometres northwest of Winnipeg, had become so severe that the mayor, council and the few others who remained after a citywide evacuation order issued Wednesday afternoon had no choice but to leave Friday.

“We had our health-care workers leave this morning… the only folks remaining on the ground are the firefighters and folks in the office of the fire commissioner and RCMP who are there to battle the blaze,” Kinew said.

CDC removes language that says healthy kids and pregnant women should get COVID shots

NEW YORK (AP) — The nation's top public health agency posted new recommendations that say healthy children and pregnant women may get COVID-19 vaccinations, removing stronger language that those groups should get the shots.

The change comes days after U.S. Health Secretary Robert F. Kennedy Jr. announced that COVID-19 vaccines will no longer be recommended for healthy children and pregnant women.

But the updated guidance on the Centers for Disease Control and Prevention's website sends a more nuanced message, saying shots “may” be given to those groups.

“The announcement from earlier this week sounded like CDC was going to fully withdraw any statement that could be construed as a recommendation for these vaccines in these populations,” said Jason Schwartz, a Yale University health policy researcher. “It's not as bad as it could have been."

Oreo maker Mondelez sues Aldi, alleging grocery chain copies its packaging to confuse customers

Snack food maker Mondelez International is suing the Aldi supermarket chain, alleging the packaging for Aldi's store-brand cookies and crackers “blatantly copies” Mondelez products like Chips Ahoy, Wheat Thins and Oreos.

In a federal lawsuit filed Tuesday in Illinois, Chicago-based Mondelez said Aldi’s packaging was “likely to deceive and confuse customers” and threatened to irreparably harm Mondelez and its brands. The company is seeking monetary damages and a court order that would stop Aldi from selling products that infringe on its trademarks.

Aldi didn't respond to messages seeking comment. The U.S. branch of Aldi, which is based in Batavia, Illinois, was named in the lawsuit.

In the lawsuit, Mondelez displayed side-by-side photos of multiple products. Aldi’s Thin Wheat crackers, for example, come in a gold box very similar to Mondelez's Wheat Thins. Aldi’s chocolate sandwich cookies and Oreos both have blue packaging. The supermarket's Golden Round crackers and Mondelez’s Ritz crackers are packaged in red boxes.

Rent-free months and gift cards: How Toronto-area landlords are vying for tenants

TORONTO - Toronto landlords are trying to lure in tenants with rent-free months, complimentary Wi-Fi and $500 gift cards amid an unprecedented supply of condos and lower rents.

Real-estate market experts say the fierce competition – which extends beyond the Greater Toronto Area – is giving renters more negotiating power, echoing trends last seen during the COVID-19 pandemic.

Two months of free rent, free parking and gift cards for food delivery or public transit are among thousands of dollars' worth of perks and discounts advertised on Toronto rental listing websites and apps.

While such incentives are ubiquitous in Toronto, landlords in other GTA cities and the Greater Hamilton Area are also locked in a tight contest that benefits renters.

The penny costs nearly 4 cents to make. Here’s how much the US spends on minting its other coins

NEW YORK (AP) — The impending “death” of the U.S. penny has spotlighted the coin's own price tag — nearly 4 cents to make and distribute each, or quadruple its value.

Months after President Donald Trump called on his administration to cease penny production, the U.S. Mint announced this week that it had made its final order of penny blanks — and plans to stop making new 1 cent coins after those run out.

Coin production costs vary thanks to different raw metals used, complexity of their designs, labor needed and more. Many of those expenses have been on the rise — and the penny isn't the only coin entering our wallets today that costs more to make than it's worth (enter the nickel debate).

Here's a rundown of U.S. Mint production costs from the government's latest fiscal year.

Getting river rehab rolling: Other cities' success in stemming effluent offer splashes of hope for Winnipeg's waterways

From giant cisterns to rain gardens, storage tunnels and parks, cities across Canada — and the rest of the world — have shown there are plenty of options to stop the overflow of sewage into freshwater.

Homeowners spend on renovations and repairs despite the uncertain economy and higher prices

LOS ANGELES (AP) — U.S. homeowners are spending more on home renovation projects, bucking a broader pullback by consumers amid diminished confidence in the economy.

Sales at building materials and garden supply retailers rose 0.8% last month from March, the biggest gain since 2022, and were up 3.2% from April last year. At the same time, U.S. retail sales overall rose 0.1%, a sharp slowdown from March.

The trend comes even as prices for home improvement products have been rising.

The cost of home repairs and remodeling climbed by nearly 4% in the first quarter from a year earlier, according to Verisk’s Remodel Index. The strategic data analytics firm tracks costs for more than 10,000 home repair items, from appliances to windows.

Manitoba bans cellphones for K-8 students

Manitoba has announced a ban on cellphones in elementary schools and strict rules to silence devices and keep them out of sight during Grade 9-12 lessons next month.

Kindergarten to Grade 8 students will be barred from using phones at any point in the school day, including during lunch and recess.

High schoolers will be asked to leave their phones in their locker, with a teacher or at the principal’s office when classes are in session.

Teenagers can access their devices on breaks and when a classroom teacher approves usage for educational purposes.

Canadian news engagement down significantly one year after Meta’s ban: study

MONTREAL - A new study is painting a grim portrait of how local Canadian news outlets are struggling to reach audiences one year after Meta began blocking Canadian news content on its Facebook and Instagram platforms.

The Media Ecosystem Observatory study published today finds that Canadians’ total engagement with news content on social media has been reduced by 43 per cent, despite efforts to increase social media engagement on other platforms.

The social media giant banned Canadian news content after Ottawa passed the Online News Act in June 2023, which compelled tech companies to enter into agreements with news publishers for the use of their content.

Local news outlets, many of which rely on Facebook, have been especially hit hard — 30 per cent of them are now inactive on social media, the study found.

Study shows ‘striking’ number who believe news misinforms

NEW YORK (AP) — Half of Americans in a recent survey indicated they believe national news organizations intend to mislead, misinform or persuade the public to adopt a particular point of view through their reporting.

The survey, released Wednesday by Gallup and the Knight Foundation, goes beyond others that have shown a low level of trust in the media to the startling point where many believe there is an intent to deceive.

Asked whether they agreed with the statement that national news organizations do not intend to mislead, 50% said they disagreed. Only 25% agreed, the study found.

Similarly, 52% disagreed with a statement that disseminators of national news “care about the best interests of their readers, viewers and listeners,” the study found. It said 23% of respondents believed the journalists were acting in the public's best interests.

Investors behaving badly

Finance professor Chi Liao’s background in mathematics often comes in handy in her line of work.

After all, both corporate and investment finance are built upon numbers. Yet financial reporting — balance sheets and cash-flow analysis — is not her area of interest.

In fact, her expertise has less to do with the numerical side of money and more to do with how our emotions affect how we manage our hard-earned cash.

“I’ve always been fascinated by people-watching and why it is we do what we do,” says Liao, who studied mathematics and finance before completing a PhD in behavioural finance from the University of Toronto in 2014.

Higher school taxes a preventable problem

Tens of thousands of Manitoba home and business owners face the prospect of permanent double-digit increases to the school tax portion of their property tax bills.

Province promises ‘proactive approach’ to truancy fight

The Kinew government is drafting legislative changes to better track schoolchildren and ensure more of them attend classes regularly.

Why AI is poised to become Santa’s little helper this holiday

Dan Box tells ChatGPT about his kids all year long.

By the time the holidays roll around, his hope is that OpenAI's artificial intelligence-based chatbot will have gleaned enough about their hobbies and interests to identify the perfect gifts and where they're priced lowest.

"For years, I always felt stressed out by things like Christmas because I really wanted it to be great and I really wanted to buy great gifts, but it's always just so much work and time," said Box, a Vancouver-based gaming executive. "This feels easier and I like it."

The way Box is shopping is no anomaly. Consumers are increasingly turning to AI to recommend products, notify them of sales, help them make purchases and arrange deliveries.