Canada appoints AI minister, Apple continues to innovate
In this week's edition of Tech Talk, Tony Ryma talks with cybersecurity expert and tech analyst Ritesh Kotak about Canada appointing its own AI minister and Apple's latest innovations.
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Globe and Mail
21 minutes ago
- Globe and Mail
A surprising answer to the question: Which big bank has the best mobile app?
The basics of a good mobile banking app are seamless and speedy log-in, modern appearance and easy navigation. According to a new J.D. Power customer satisfaction survey, the Big Five banks all deliver on these points. 'It's getting harder to tell the nation's banks and credit card company mobile apps and websites apart from one another,' the survey concludes. Do Canadian banks have a homogeneity problem? Their earnings and stock market performance certainly differ, but there's a sameness to the customer experience once you get beyond logos and colour schemes. App parity reflects this, but so other aspects of consumer banking. Does any bank do chequing, mortgages or investments demonstrably better than the rest? Canadian Imperial Bank of Commerce took top spot in banking app satisfaction with a score of 641 out of 1,000, Toronto-Dominion Bank scored 631, Bank of Montreal and Royal Bank of Canada 626 and Bank of Nova Scotia 620. On credit-card apps, American Express led a larger field of competitors with a score of 692 and Tangerine was second at 669. After that, most competitors were bunched in the mid- to low-600 range. J.D. Power says banks have spent years maximizing the functionality of their apps within the limits of their current technology. The next frontier will be adding AI-based functions, which clients are encountering more in other aspects of their lives. I use a few alternative bank apps and haven't yet found any that crush the competition. But as we look ahead to open banking, let's not concede that all apps will be more or less the same. Open banking will allow bank clients to securely share financial data with alternative players. Let's see whether they can use it to build a better app. A surprising finding in the J.D. Power customer satisfaction numbers is that people like multi-factor authentication when logging into a mobile app. MFA can be a hassle if you're in a hurry. For example, you may be asked for a verification code sent to by your bank via text, or to use a fingerprint reader. Still, J.D. Power said overall customer satisfaction is 12 points higher when customers use multi-factor authentication before logging in. This shift reflects improvements banks have made in the usability of MFA, and an increased focus on security by bank customers. Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here. Housing affordability: Canada vs. the U.S. Vancouver, Toronto and Victoria top this ranking of North American cities by housing affordability – specifically, mortgage payment as a percentage of income. The list highlights just how much cheaper homes are in the U.S., even in big cities like New York. Top choices for simple and great investing An investing blogger sorts through some of the biggest asset allocation exchange-traded funds and identifies some top choices. Asset-allocation ETFs are a simple, cheap and excellent way to build a fully diversified portfolio of exchange-traded funds. Personal finance's independence movement Christine Benz, director of personal finance and retirement for the investing analysis company Morningstar, recently attended an event held for people who follow the F.I.R.E. philosophy – financial independence, retire early. She picked up a few lessons to pass along on balancing work and the powerful idea of financial freedom. Bet you lose Toronto Life on the betting scandal involving a former Toronto Raptor. What I took away from this story is a sense of shock about the amount being wasted on ridiculous sports betting. The player in question was a day trader, and a gambler. Subscribe to Stress Test on Apple podcasts or Spotify. Q: If we are going to experience rough seas for the next two to four years, I want to be on the largest warship in the fleet. That would be U.S. equities. Is that approach reasonable? A: As dominant as the U.S. stock market has been in the past decade, strong returns from Canadian stocks lately mean the five-year annualized total return of the S&P/TSX composite index is now more or less even with the S&P 500. Meanwhile, international stocks have been coming on strong. The U.S. market offers exposure to leading companies in tech, health care and consumer discretionary stocks, but investors are looking at other markets these days. Do you have a question for me? Send it my way. Sorry I can't answer every one personally. Questions and answers are edited for length and clarity. Tools and guides A beginner's guide to guaranteed investment certificates. In the social sphere Social Media: How often do people upgrade their smartphone? Watch: Thoughts on the worries involved in home ownership. Not buying so much, but living up to the responsibilities of owning a property. Money-Free Zone: Paul Weller has to be one of the most eclectic and versatile musicians around. He's been a new-wave rocker, a neo-soul musician and, more recently, a singer-songwriter who puts out nuggets like this new cover of a 1974 song called Pinball by singer-actor Brian Protheroe. You can catch Weller at his new wave peak in That's Entertainment, an all-time great song. Weller's soul-era band was called The Style Council – here's one of their most enjoyable songs, The Big Boss Groove. More PF from The Globe - Five tax tips for cottage owners this summer season - The best time to make a lump-sum mortgage payment, according to the experts - Canadians go elbows up on U.S. travel, opting for these destinations instead - Trump-proofing your wallet
Globe and Mail
24 minutes ago
- Globe and Mail
Strategy (MSTR) Buys Another $110 Million of Bitcoin
Strategy (MSTR) continues to purchase Bitcoin (BTC) even as the price rises. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In the past week, the software company turned serial Bitcoin acquirer bought an additional 1,045 BTC for $110.2 million. The company, led by founder Michael Saylor, paid an average purchase price of $105,426 each for its latest Bitcoin accumulation. Strategy, formerly known as MicroStrategy, now owns 582,000 Bitcoin worth $62.5 billion. The company is the largest corporate owner of BTC in the world. Strategy's average purchase price for its Bitcoin holdings is $70,086 per digital token. Funding Purchases Last week's buys were funded via at-the-market sales of Strategy's preferred stock, according to a regulatory filing with the U.S. Securities and Exchange Commission (SEC). The company remains committed to its focus on aggressively acquiring Bitcoin. Strategy's stock has risen 25% this year to trade at $374.47 per share. The price of Bitcoin is currently right around $107,500, having gained 12% on the year. Is BTC a Buy? Most Wall Street firms don't offer ratings or price targets on Bitcoin, so we'll look instead at its three-month performance. As one can see in the chart below, the price of BTC has risen 34.14% in the last 12 weeks.
Cision Canada
27 minutes ago
- Cision Canada
Smart Healthcare Is Taking Over. Here's Where the Money's Headed
VANCOUVER, BC, June 10, 2025 /CNW/ -- Both politicians and leaders in academia are touting the AI revolution empowering the frontline of what's dubbed Smart Healthcare. In a recent write-up in Forbes, Prof. Nicos Savva of the London Business School cited recent speeches from former British Prime Minister Tony Blair, who insists that the UK needs to embrace a future with AI doctors and nurses, or risk being left behind. A new report from Wolters Kluwer has experts calling for more clarity around its use, adoption, and business strategy, because most healthcare organizations aren't currently ready to use GenAI tools. But as implementations increase across the sector, so too are major developments coming from innovators, including Avant Technologies, Inc. (OTCQB: AVAI), Renovaro Inc. (NASDAQ: RENB), Alphabet, Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL), Omada Health, Inc. (NASDAQ: OMDA), and Inc. (NASDAQ: AMZN). McKinsey's Global Institute estimates Gen AI could unlock $60–110 billion in annual value across pharma and medical products alone. Statista now projects the global AI healthcare market will soar from $11 billion to $188 billion by 2030. Avant Technologies, Inc. (OTCQB: AVAI) has just taken a major step forward in its evolution from AI incubator to full-stack healthcare innovator. Today, the company announced it had signed a non-binding letter of intent to acquire 100% of Ainnova Tech, its joint venture partner and the developer of the Vision AI diagnostic platform. Prior to the acquisition, the two companies have been operating jointly through Ai-nova Acquisition Corp (AAC), which holds global licensing rights to Ainnova's technology portfolio and serves as the commercialization engine for Vision AI and all future device deployments. "We believe bringing the two companies together will offer tremendous value for shareholders, it will simplify the process of advancing our technology to market, and it will deliver value to our customers and partners as we promote our technology portfolio globally," said Vinicio Vargas, CEO at Ainnova and a member of the Board of Directors of AAC. "We feel the joint venture has been a success and both companies have worked well together toward a common goal, so we believe that we can be even more successful and use our resources more effectively as one company to further AI in healthcare." Under the proposed agreement, Ainnova would roll all of its outstanding equity into the combined public entity — unifying leadership and eliminating structural complexity ahead of a scheduled FDA pre-submission meeting in July. While final terms of the deal are still being negotiated, both companies say the merger would streamline commercialization and accelerate the rollout of Ainnova's flagship Vision AI technology — a platform already in use across clinical sites in Latin America for the early detection of diabetic retinopathy, cardiovascular disease, and other chronic conditions. The move also signals growing confidence from Avant's leadership as they prepare to bring proprietary hardware into the mix. In parallel with the merger discussions, Avant and Ainnova are entering the final prototyping stage of a low-cost, automated retinal imaging device — marking a potential turning point in the companies' shared push toward AI-powered early diagnostics. The new device is designed to operate hands-free and feed imaging data directly into the Vision AI platform, enabling near-instant risk reports without expensive equipment or trained personnel. The companies say the camera, developed under their joint venture Ai-nova Acquisition Corp. (AAC), is expected to cost a fraction of legacy fundus cameras. By combining affordability with automation, the device could expand screening access across primary care clinics and emerging-market providers that have traditionally been priced out of ophthalmic diagnostics. "The cost of a fundus camera has always been a barrier to entry in this market," said Vargas. "Our low-cost camera, which is a fraction of the cost of currently available cameras on the market, should allow us to not only enter the market, but to capture a large share of the market." Also in development are additional platform modules, including a patented dementia detection tool that combines a five-minute blood test with AI-trained algorithms. Although that technology remains in evaluation, the core platform continues to expand its reach and functionality — evolving from a retinal-focused application into a broader engine for predictive healthcare. "Our purpose is to create the future of early disease detection in an accessible way, so that patients can get a preventive check-up anywhere, at a low cost, and easily," said Vargas in a previous statement. "We want to prevent patients with risk factors from developing other diseases that could have been avoided before they became a real problem. To this end, we are seeking to integrate new technologies into our portfolio within a single platform, both through our R&D efforts and through potential exclusive licenses or acquisitions." As the camera prototype nears completion, Avant is positioning itself for broader market entry. While a launch date has yet to be announced, the integrated platform is designed to reduce diagnostic friction, speed up referrals, and expand access to early-stage health insights — especially in geographies where affordability, not innovation, remains the primary barrier to care. Renovaro Inc. (NASDAQ: RENB) recently announced a major expansion to its intellectual property portfolio with a newly approved U.S. patent for its AI-powered drug discovery and diagnostics infrastructure. "This patent is a strategic milestone for Renovaro," said David Weinstein, CEO of Renovaro. "Together with our previously granted patent, it forms the technological foundation of a scalable, end-to-end platform for AI-powered drug discovery and diagnostics and strengthens our position in the fast-growing market for data-driven therapeutics and clinical insights." The patent protects methods that harmonize genomic, imaging, clinical, and health record data into a standardized framework for large-scale predictive analytics. These capabilities are built for distributed computing environments, aligning with the biopharma industry's move toward real-time, scalable analytics. The development enhances Renovaro's competitive positioning in data-driven therapeutics and clinical insight markets. Alphabet, Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) recently showcased its leadership in AI-driven cancer research at the 2025 ASCO Annual Meeting, where Ruth Porat discussed Alphabet's evolving role in early diagnosis and treatment. "AI has greater potential than the internet, because it can augment human capabilities," wrote Ruth Porat, President & Chief Investment Officer of Alphabet and Google, quoting Vint Cerf. "It is a partner for all of you, for each of us." Porat highlighted Google's success with AlphaFold, which has accelerated cancer drug discovery by solving the decades-long problem of protein folding. She also noted the company's AI-assisted pathology tools that cut diagnostic time in half and improve detection of small metastases. From scalable diabetic retinopathy screening to generative AI for clinical workflows, she framed AI as a transformative force in healthcare delivery. Omada Health, Inc. (NASDAQ: OMDA) entered the public markets with a strong debut, raising $150 million and closing its first trading day 21% above IPO pricing. The company delivers AI-augmented virtual care for chronic conditions like diabetes, hypertension, and obesity, serving more than 679,000 active members. In May, prior to the IPO, Omada introduced Nutritional Intelligence, a new member experience powered by OmadaSpark—an AI agent that offers personalized, evidence-based nutrition coaching between clinical visits. As demand rises for GLP-1 medications, Omada is positioning its human-plus-AI model as essential to long-term metabolic health. "We believe there is a clear market need for real-time educational support backed by behavioral science to improve mindsets and behaviors toward food," said Wei-Li Shao, President at Omada Health. "To meet the needs of our customers and members, Omada fine tuned its approach to offer AI-powered tools trained with clinical input and expertise to work alongside human care teams in helping members drive improved health and economic outcomes." Inc. (NASDAQ: AMZN) continues to scale its digital health footprint via Amazon Web Services (AWS), which recently brought its HealthLake platform to the EU's Dublin Region. The move enables hospitals and insurers to unify siloed patient data using FHIR standards, while running AI-driven analytics and maintaining full data residency compliance. "I'm excited about AWS HealthLake launch in EU Region," said Ramon Postulart, CTO at Adapcare. " AWS HealthLake is a key AWS healthcare service helping us modernize interoperability across the 70+ care organizations and 60,000 health professionals we support in the Netherlands. By moving to this service, we're unlocking richer, standardized health data and leveraging the HealthLake fully managed capabilities to build smarter, AI-powered tools for care planning and coordination." HealthLake now serves as the engine behind personalized care tools in development across Ireland, the Netherlands, and Finland. AWS also hosted its Health Data & AI Day in Dublin to promote cross-border health data innovation and the European Health Data Space initiative. DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. 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