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AI transformative for finance but not ready for prime time: RBC’s McKay

Published Mon, 24 Feb 2025 15:46:08 GMT

RBC chief executive Dave McKay says artificial intelligence is already showing its potential in transforming the financial sector even if it’s not quite “ready for prime time.”Speaking at a University of Waterloo tech conference in Toronto, McKay says AI still has too many errors and “hallucinations” or nonsense answers, to rely on it in banking services.The bank however does seen huge potential in everything from writing code to helping sales staff navigate complex financial products.He says banks will have to train algorithms in-house to control the data and to make sure the systems are trustworthy and accurate.McKay says AI is already proving its potential with systems such as Aiden, the bank’s AI-powered trading platform, that has outperformed human traders by 30 per cent.He said that like climate change, AI is creating fear and anxiety as it begins to transform society and people don’t feel in control, but that it’s a matter of en...

Judging from the level of complaints, air travel is getting worse

Published Mon, 24 Feb 2025 15:46:08 GMT

Air travel is getting worse, judging from the number of consumer complaints.Consumer complaints about airlines nearly doubled in the first three months of this year compared with the same period last year and kept soaring in April and May, the U.S. Transportation Department said Wednesday.Those are the latest figures from the government. The Transportation Department said information about complaints has been delayed because there are so many of them to process.The department said it received 24,965 complaints about airline service in the first three months of the year, up 88% from the first quarter of 2022. Consumers filed another 6,712 complaints in April, up 32% from a year earlier, and 6,465 in May, an increase of 49%.The Transportation Department said that disability-related complaints, such as delaying or damaging wheelchairs, are also up from last year. There were 636 such complaints in the first quarter, nearly double the 380 filed during the same period of 2022. The agency ...

BoC on standby to raise rates further, summary reveals hawkish tone to deliberations

Published Mon, 24 Feb 2025 15:46:08 GMT

OTTAWA — Further interest rate hikes from the Bank of Canada are very much still on the table as its governing council remains split on whether rates may need to rise further. The central bank today released its summary of deliberations detailing the discussions governing council members had in the lead-up to its Oct. 25 rate decision.The summary says some members believed it’s more likely than not that interest rates will need to go higher to get inflation back to target levels. But other members thought its key rate is now high enough to bring inflation down, so long as the central bank maintains it at that level for long enough. While the Bank of Canada ultimately decided to exert patience by holding its key rate steady at five per cent, members of the governing council agreed to revisit whether rates need to rise further. The central bank remains concerned that inflation is not falling fast enough, despite the economy responding to higher interest rates.This report by The ...

Book Review: Alice McDermott’s ‘Absolution’ captures America with Vietnam War in the background

Published Mon, 24 Feb 2025 15:46:08 GMT

Living in Western diplomatic privilege with cooks and maids and drivers, the women in the new novel “Absolution” spend their days attending luncheons, lectures and cocktail parties as the Vietnam War rumbles in the background. It’s 1963 Saigon, but the wives of ambitious American attorneys and engineers are focused on writing clever letters with French phrases to be slipped into light blue airmail envelopes and the daily dressing rituals that include girdles, stockings and white dress shields fastened with tiny gold safety pins. Alice McDermott’s ninth novel perfectly captures the manner and mood of that era and the constricted lives that women led as “helpmeets” for their husbands. McDermott won the National Book Award for her novel “Charming Billy.”In “Absolution,” Irish American newlywed Tricia is just 23, proud of her handsome engineer husband who is on loan to the Navy and hoping they can quickly start a family during their time in southeast Asia. Tricia soon meets ...

Think scam calls are bad now? Experts warn growing use of AI will make problem worse

Published Mon, 24 Feb 2025 15:46:08 GMT

TORONTO — A company that specializes in detecting spam phone calls says it expects generative artificial intelligence to drastically change the way call recipients are targeted, including the potential for scammers to tailor their attacks to specific people.Jonathan Nelson, director of product management for Seattle-based Hiya, says Canadian telecommunications companies and their customers should be wary of a likely influx in calls that use AI to fool the caller within the coming years.This could include speech augmentation to remove a scammer’s accent, automation to replace the role of a human scammer with that of a robot and technology that can frequently alter spam call scripts, making them less recognizable to the recipient.He also warns of voice cloning technology being paired with automation to mimic a human, making them sound identical to a specific person that the call recipient knows.Nelson spoke to Canadian telecommunications industry stakeholders Wednesday on the fi...

Swifties to find out if they’ve won Vancouver’s ticket lottery

Published Mon, 24 Feb 2025 15:46:08 GMT

Taylor Swift fans are about to find out if their wildest dreams are going to come true, as the results of Ticketmaster’s Vancouver lottery are released Wednesday.Demand for Swift’s ‘The Era’s’ tour is so big that a lottery system has been used for most of her shows. Hopeful attendees have to register for a code, which is required to purchase tickets.Swift has three concerts scheduled for Vancouver — all in December 2024. The dates come on the heels of previously announced five shows in Toronto.Ticketmaster says it uses the code system to “ensure more tickets get into the hands of concertgoers.”“Verified Fan requires registration to help filter out buyers looking to resell tickets, and instead get them to fans who want to attend the show,” the ticket service said.But Ticketmaster might end up the anti-hero, as it explains that not everyone who registered may be able to buy tickets.“Tickets will be sold on a first-come,...

4 California men linked to Three Percenters militia convicted of conspiracy in Jan. 6 case

Published Mon, 24 Feb 2025 15:46:08 GMT

WASHINGTON (AP) — Four California men linked to the “Three Percenters” militia movement have been convicted charges including conspiracy and obstruction for their roles in the Jan. 6, 2021 riot at the U.S. Capitol. Erik Scott Warner, 48, of Menifee,; Felipe Antonio Martinez, 50, of Lake Elsinore,; Derek Kinnison, 42, of Lake Elsinore,; and Ronald Mele, 54, of Temecula, were found guilty on Tuesday after a trial in Washington’s federal court, according to prosecutors.They were convicted of conspiracy and obstruction of an official proceeding — the joint session of Congress in which lawmakers met to certify President Joe Biden as the winner of the 2020 election. Attorneys for Martinez and Warner declined to comment, and emails seeking comment were sent to an attorney for Mele. Kinnison’s lawyer, Nicolai Cocis, said he is disappointed with the verdict and they are considering all available legal options. “Mr. Kinnison is a patriotic citizen who wanted to show his supp...

Elected officials raise alarm about ‘terrifying’ rise in antisemitism in Canada

Published Mon, 24 Feb 2025 15:46:08 GMT

Federal politicians are raising the alarm about what they say is an increase in antisemitism in Canada after a Montreal-area synagogue and a local Jewish organization were hit with firebombs this week.Liberal MP Anthony Housefather told reporters this morning he has never seen a time when Jewish Canadians felt as scared as they do now.Housefather says the firebombing, which caused minor damage to the synagogue he attended as a child, is not something that can be taken lightly.As the Israel-Hamas war enters its second month, he is calling on police to “crack down” on hate speech and crimes.Prime Minister Justin Trudeau said today the country is seeing a “terrifying” rise in antisemitism, including threats of violence aimed at Jewish establishments.He said both Jews and Muslims in Canada have been targeted by expressions of hate and violence, calling the acts unacceptable.This report by The Canadian Press was first published Nov. 8, 2023.The Canadian Press

Valparaiso University student dies after stabbing at Planet Fitness; Man in custody

Published Mon, 24 Feb 2025 15:46:08 GMT

VALPARAISO, Ind. — A 24-year-old man is suspected in the stabbing death of a Valparaiso University student at a Northwest Indiana-area Planet Fitness.Valparaiso University president José D. Padilla confirmed the passing of Varun Raj Pucha on Wednesday, calling his death "an immense loss to our campus family, and an immeasurably greater loss for those close to him."According to Valparaiso police, authorities responded to the fitness center, located in the 1200 block of Strongbow Centre Drive, on Oct. 29 following reports that a man had been stabbed. The investigation led police to Jordan Andrade of Porter Township, who was initially booked on charges of attempted murder and aggravated battery with a deadly weapon. Charges are expected to be upgraded to murder.Jordan AndradePolice did not speculate on a motive, but the Northwest Indiana Times reports that Andrade had previously been diagnosed with serious mental health conditions. The newspaper adds that the stabbing took place a...

Cook County officials propose resolution focused on food insecurity

Published Mon, 24 Feb 2025 15:46:08 GMT

CHICAGO — Cook County commissioners came together Wednesday at City Hall to unveil a new resolution they’re proposing to tackle food insecurity.It is called the Food is Medicine resolution and specifically highlights the impact of you are what you eat.Cook County Commissioner Dennis Deer of the 2nd District is leading the charge and supported by five other Cook County commissioners.The resolution builds upon money already in the pot for this kind of work to the tune of about $650,000 – and adds an additional $350,000 to it to bring the funds up to a million dollars.The money would then be used for a number of things including:Building partnerships with fresh produce providers and the Illinois Restaurant Association to highlight healthy eating optionsCreating a new website where people can locate the informationCreating a campaign expressing the importance of quality food and nutrition – of which the south and west suburbs of the county have the least access to.The resolution wi...