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Trust in AI for Financial Advice Lags
Trust in AI for Financial Advice Lags

01 November 2024, 12:46 AM

As residents of the Hibiscus Coast navigate the changing financial landscape, a new analysis reveals that trust in artificial intelligence (AI) for financial advice remains shaky.Despite AI's growing sophistication, many people still prefer human expertise when making significant investment decisions.Research conducted by Gertjan Verdickt, a lecturer at the Business School at the University of Auckland, examines attitudes toward AI in finance.With major banks and investment firms increasingly relying on AI for stock market predictions and client advisory services, the critical question arises: can AI be trusted with our money?The study surveyed 3,600 individuals across the United States, asking them to imagine receiving stock market advice from human experts, AI, or a combination of both.The findings showed that, generally, people favoured human advisers over their AI counterparts.However, this scepticism is not universal.Factors such as gender, familiarity with AI, and political beliefs influenced levels of trust.For instance, women exhibited a 7.5 percent greater likelihood to trust AI compared to men, while individuals with more knowledge about AI were 10.1 percent more inclined to heed its advice.The complexity of AI methods also impacted trust levels.Lecturer Gertjan Verdickt, Business School, University of Auckland.Participants preferred simpler AI approaches, such as basic statistical techniques, over more intricate models like deep learning.This preference suggests that clarity in AI operations may enhance user confidence, akin to trusting a straightforward calculator over a complicated scientific instrument.As AI continues to permeate the financial sector, the research highlights an urgent need for firms to improve client trust.This could involve educating consumers about AI capabilities, clarifying its applications, and finding the right balance between human and machine input.Understanding public perception will be essential for the acceptance of AI as a reliable financial advisor.As technology evolves, so too must our approaches to integrating AI into financial decision-making, ensuring it becomes a trusted partner for the community.

Keep Your Children Safe This Halloween
Keep Your Children Safe This Halloween

30 October 2024, 7:33 PM

Coasties are reminded to prioritise safety for their little ones while they enjoy trick-or-treating in the community. Today marks the festive occasion where children can dress up as pirates, superheroes, witches, and fairies, gathering sweets with friends and family.Inspector Brett Callander emphasises the importance of vigilance during these celebrations. “Although it is a fun night out, we would like to remind parents and caregivers to ensure the safety of their children,” he stated. With excitement in the air, it’s essential to stay mindful of the surroundings.To support families in ensuring a safe Halloween, police offer several recommendations. Caregivers should supervise young children at all times and avoid allowing them to wander off with strangers. Trick-or-treating in well-lit areas and familiar neighbourhoods is strongly encouraged.Inspector Callander also advises that older children should go out with friends and look out for each other. Respecting the wishes of homeowners is crucial; if a residence displays a sign indicating they are not participating in Halloween, children should move on without knocking.For those who may not wish to partake in Halloween festivities, placing a sign on their front door or gate can help deter young visitors. Householders are reminded that they are not obliged to open their doors or respond to knocks from trick-or-treaters.Parents and caregivers are also encouraged to check local community pages for information on which homes are participating in Halloween activities. For an alternative to door-to-door trick-or-treating, attending a local community event can provide a safe and enjoyable experience for families.Police urge everyone in the community to look out for one another. Should anyone witness suspicious activity, they are encouraged to contact 111 immediately.

Auckland potholes to be repaired within 24 hours
Auckland potholes to be repaired within 24 hours

30 October 2024, 6:01 PM

Auckland Transport says it will repair potholes on major roads within 24 hours - most of the time.It has launched a new push to repair potholes faster, expecting crews to make repairs on Auckland's busiest roads within 24 hours, 95 percent of the time.Smaller local roads can expect repairs within five days.Group manager for road maintenance Alan Wallace said major roads in Auckland are highly used, with the busiest 1000km of road carrying 10,000 vehicles a day."It's about 1400km that we would call our regional and district arterial roads, so they're the main spines that we have across the network. It's the Fanshaw streets, it's the Lake roads, it's the Onewa roads, those main roads."He said potholes are particularly bad in Auckland because the cities growth has put pressure on the roading network, with roads designed to take 5000 vehicles a day now taking over 10,000, increasing the rate of wear and tear.He said changing conditions, such as weather, mean achieving repairs within 24 hours 100 percent of the time is not achievable."This is work we've always done, but we are putting more resources into making sure we can do it quicker and more reliably for our customers."The "pothole promise" follows the focus on maintenance approach taken by the government to state highways.Earlier this year, Minister of Transport Simeon Brown announced a ring-fenced 'Pothole Prevention Fund', with $3.9 billion doing towards roading maintenance and upgrades."It is very consistent with the increased emphasis put on road maintenance by government, and by Auckland Council and the mayor. It means that we're putting more resources and a lot of focus on managing our existing network," Wallace said.He said the commitment to repair relies on people reporting potholes when they see one.Communities can report a pothole through the Auckland Transport website, using the 'report a problem' portal.

Fast-Track Pathway for Overseas Doctors
Fast-Track Pathway for Overseas Doctors

30 October 2024, 5:14 PM

Coasties may soon see more doctors available in local clinics as New Zealand welcomes a new fast-track process to bring in specialist doctors from overseas. This initiative, announced by Health Minister Dr Shane Reti, is expected to help ease the ongoing strain on the country’s health workforce by accelerating the registration process for eligible international specialists.Starting 1 November, doctors trained in fields such as anaesthesia, emergency medicine, dermatology, and psychiatry from the UK, Ireland, and Australia will be able to complete the application process in just 20 working days—a major reduction from the usual six-month wait time. According to Dr Reti, the move is designed to support improved access to healthcare across New Zealand, including on the Hibiscus Coast, where residents have felt the impact of the national doctor shortage.“Speeding up a process that would usually take up to six months will help to fill critical gaps in New Zealand’s health workforce sooner and is just another step to improve Kiwis’ access to good, fast healthcare while we progress longer-term initiatives,” Dr Reti stated. He added that these initiatives include increasing student placements at Auckland and Otago Medical Schools and looking into the development of a third medical school in Waikato.The Medical Council, which oversees the registration of doctors in New Zealand, expects the new pathway to attract a greater number of UK and Irish-trained specialists. This influx of overseas talent will provide a temporary but valuable solution as New Zealand works to expand its homegrown health workforce.Dr Reti also expressed appreciation for the dedication of internationally qualified doctors, noting their continued contribution to maintaining quality healthcare. “While we work to build our own, home-grown health workforce, internationally qualified specialists continue to have a critical role in providing quality health services for New Zealanders—I thank them for their hard work and dedication.”

Government Report Calls Truancy Crisis Urgent
Government Report Calls Truancy Crisis Urgent

30 October 2024, 12:59 AM

Coasties will be keen to follow new developments on school attendance, as a recent report from the Education Review Office (ERO) reveals troubling figures on student absenteeism across New Zealand. Released today, the report highlights what the ERO calls a “truancy crisis,” stressing the importance of timely interventions to address the rising rates of chronic absenteeism.According to Associate Education Minister David Seymour, the report shows that since 2015, chronic school absence has doubled, suggesting a substantial need for action to keep children in school and improve future social outcomes. “This report reinforces that action is needed to ensure this generation reaches its full potential,” Seymour said.In response, the government has launched a Stepped Attendance Response (STAR) system aimed at addressing absenteeism at multiple levels. By 2026, all schools will be required to have attendance management plans aligned with STAR. To support schools in implementing these plans, the Ministry of Education is preparing best practice templates and toolkits for managing absenteeism, considering factors contributing to each student’s attendance patterns.The report also points to gaps in communication between agencies responsible for school attendance, which has limited the ability to intervene early in cases of chronic absence. The government aims to resolve these issues by developing information-sharing agreements among the Ministry of Education, Ministry for Social Development, Oranga Tamariki, and Police.A notable part of the ERO’s findings involved legal barriers that schools face when addressing absenteeism. Seymour acknowledged these challenges, stating that the Ministry will take a more proactive role in handling cases where legal action is necessary to enforce attendance.Locals on the Hibiscus Coast may find these updates significant as the government seeks long-term solutions to school absence.Seymour stressed, “If we want better social outcomes, we can’t keep ignoring the truancy crisis.”The full ERO report is set to be available on ero.govt.nz from 5 am on Wednesday, October 30.

Feedback Sought on NZ Post Service Changes
Feedback Sought on NZ Post Service Changes

29 October 2024, 9:00 PM

Coasties now have an opportunity to voice their opinions on proposed adjustments to New Zealand Post’s mail service obligations. The Ministry of Business, Innovation, and Employment (MBIE) is inviting feedback on how these changes could affect New Zealanders, aiming to ensure mail delivery remains both accessible and commercially sustainable.With mail volumes consistently declining, adjustments are being considered to the minimum obligations on NZ Post's services. These obligations are outlined in a Deed of Understanding, an agreement between the government and NZ Post detailing minimum requirements, such as delivery frequency and the number of postal outlets across the country.“The way New Zealanders use the mail service has changed significantly,” says MBIE’s General Manager of Communications Infrastructure and Trade, James Hartley. “Compared to 20 years ago, we now send around 813 million fewer mail items, with volumes expected to drop to about 100 million by 2028.” According to Mr Hartley, the 2024 review aims to balance maintaining service accessibility with flexibility for NZ Post to operate sustainably.Among the proposed changes are adjustments to delivery frequency and postal outlet requirements. In urban areas, the minimum delivery frequency would decrease from three to two days per week, while rural areas would shift from five to three days. The proposal also suggests reducing the minimum number of postal outlets from 880 to 500, with potential gradual reductions to 400 over time.Other changes include converting individual delivery points to communal boxes at a limited rate and revisiting the Deed of Understanding every three years to assess further adjustments if mail volumes decline faster than projected.“We recognise the importance of the mail service, particularly for rural and older New Zealanders,” adds Mr Hartley. “This consultation process will help us understand how people are currently using the service and gather views on how these changes could work for our communities.”Locals are encouraged to provide their input before the consultation closes at 5 pm on 10 December 2024. Final decisions will be made by the Media and Communications Minister following analysis of the feedback, with NZ Post managing any operational adjustments resulting from the updated Deed.

Hibiscus Coast Sees Population and Income Growth
Hibiscus Coast Sees Population and Income Growth

29 October 2024, 6:16 PM

Recent population estimates from Statistics New Zealand reveal a slowdown in national growth, but the Hibiscus Coast continues to experience a steady rise, with areas like Millwater and Orewa driving local gains.For the year ending June 2024, New Zealand’s population grew by 1.8%, down from 2.5% in the previous year. Net migration provided the bulk of this growth, adding 73,300 residents, while natural increase (births minus deaths) contributed 20,300. All 16 regions saw population gains, with Auckland, Waikato, and Bay of Plenty experiencing the largest increases. In Auckland, Papakura led with a 5.1% increase, followed by rapid growth in areas like Ōtara-Papatoetoe and Upper Harbour.Locally, the Hibiscus Coast continues its growth trend, with substantial population increases recorded in census data from 2018 to 2023. Millwater South nearly doubled its population during this period, jumping from 2,304 residents in 2018 to 4,287 in 2023. Orewa North also saw notable growth, increasing from 4,077 to 4,614 residents.Demographic shifts are evident as well, with the median age rising in several Hibiscus Coast areas, including Wainui-Waiwera, Orewa North, and Millwater Central, suggesting an influx of older residents or lower birth rates. Income levels have risen sharply, particularly in Millwater North, where median personal income climbed from $34,200 in 2018 to $59,600 in 2023. Similar trends are observed in Wainui-Waiwera and Orewa Central, indicating growing economic prosperity across the region.While these figures reflect broad trends on the Hibiscus Coast, slight variations may exist due to differences in data collection periods and census limitations.For Coasties, these trends reflect a changing landscape on the Hibiscus Coast, where a mix of population growth and economic progress continues to shape the community’s character and lifestyle.

Moving back speed limits, new school signage may cost $25m
Moving back speed limits, new school signage may cost $25m

29 October 2024, 5:29 PM

Auckland Transport estimates it could cost up to $25 million to meet the government's new speed rule to increase speed limits on roads where it has been lowered and put in variable school speed limits.The Minister of Transport signed the speed rule into law last month, ordering speed limits be reversed to their pre-2019 levels by 1 July next year, and introducing variable speed limits around schools a year after that.General manager of transport safety Teresa Burnett told the Auckland Transport board on Tuesday that speed limits on 1800 local roads will need to be increased.The majority of those - 1760 - are in neighbourhoods with schools in the area, where limits were lowered from 50km/hr to 30km/hr.Auckland Transport estimates that reversing speed limits could cost $7.5m - made up of changing signs and road markings in reduced speed areas.Setting up variable speed limits around schools, which would lower speeds only during pick-up and drop-off times, is estimated to cost $16.7m.Another $450,000 will need to be spent on advertising, informing people of the speed changes.Burnett told the board that no new funding was allocated from the government to cover reversing speed limits, and the cost will have to be covered by Auckland Transport.Board member and councillor for the North Shore Chris Darby asked if there was any ability to refuse to reverse speed limits.The board was told it was not a "lawful option" available to Auckland Transport, and there was no room for consultation on whether to carry out speed limit increases.But, under the new speed rule legislation, there was an option to set new speed limits of 40km /hr in town centres, but that would have to be applied for after 1 July next year.Burnett noted it would be logistically difficult to change speed limit signs and road markings by 1 July 2025.Guidance on managing speeds under the new rule from NZTA is still to come.

Auckland Marathon Motorway Closures This Sunday
Auckland Marathon Motorway Closures This Sunday

29 October 2024, 12:30 AM

Coasties heading into Auckland city this Sunday, November 3rd, can expect some citybound lane closures along the Northern Motorway and Auckland Harbour Bridge.The Barfoot & Thompson Auckland Marathon is set to take place from 4 am to 12 midday, causing significant changes to traffic patterns in the area.While the Harbour Bridge will remain open throughout the event, traffic will be reduced to three lanes in each direction, which may lead to delays for motorists.NZTA advises no detour routes will be necessary, but drivers are encouraged to allow extra time for their journeys.The marathon will impact several key areas: the Northern Busway’s bus-only lanes will close between Constellation Drive and Onewa Road, with runners entering the busway at Smales Farm.Additionally, one lane of the southbound Northern Motorway will be closed after the Esmonde Road interchange, and the Onewa Road southbound on-ramp will be closed, including the bus lane.Fortunately, the Esmonde Road on-ramp will remain open for citybound traffic.South of Onewa Road, two left southbound lanes will close, allowing runners to use the clip-on lanes over the Harbour Bridge.The Shelly Beach Road off-ramp will be closed to all traffic, as will the Curran Street on-ramp, while runners will exit the bridge and continue along Westhaven Drive into the city.Motorists should also note that the Fanshawe Street citybound off-ramp will be closed from 2 am to 3 pm.Additional road closures and parking restrictions will be in effect; further details can be found on Auckland Transport's website.

Kiwi Trivia to Feature on Air NZ Flights
Kiwi Trivia to Feature on Air NZ Flights

28 October 2024, 9:40 PM

Locals and visitors flying with Air New Zealand this November will enjoy a new take on the airline’s classic inflight quiz, now infused with trivia submitted by Kiwis across the country. This uniquely New Zealand quiz features over 250 questions selected from more than 1,400 submissions sent in by trivia lovers nationwide.Each quiz question displays the name and region of the person who submitted it, creating a distinctly local experience for flyers. Air New Zealand’s General Manager of Domestic, Scott Carr, expressed excitement about the responses. “We asked our customers to flex their trivia muscles, and they certainly delivered! From fun local facts to obscure knowledge, the variety was fantastic,” Carr shared.The questions cover quirky topics that highlight local culture and humour. Examples include, “What do polydactyl cats have more of than other cats?” and “Which Southland town is the self-proclaimed Sausage Capital of New Zealand?” To keep things interesting, different question sets are available for northbound and southbound flights, meaning travellers will encounter fresh challenges on the return journey.This new Kiwi-inspired quiz also launches alongside a design update, enhancing readability and introducing new question formats to make the quiz even more engaging for passengers. “Our quiz is a beloved staple of domestic jet flights,” Carr said. “We’ve redesigned it to make it even more engaging. With more space for questions and answers, customers can look forward to even more trivia-packed fun onboard!”This November, Air New Zealand’s inflight quiz promises to be an engaging journey through New Zealand trivia, bringing a fun, local twist to the skies.

Labour Day weekend road toll ends at zero deaths
Labour Day weekend road toll ends at zero deaths

28 October 2024, 7:56 PM

The official Labour Day weekend holiday period is over and no one died on New Zealand roads, police say.It is a new record for the period, with the previous lowest being in 2013 when one person died and 109 people were injured.The worst Labour Day holiday weekend for deaths and serious injuries was in 1983 when 13 people died and 248 were injured.Last year, there were six deaths, 2022 saw five deaths, 2021 saw six deaths and in 2020, eight people died, according to the Ministry of Transport.National road policing centre Superintendent Steve Greal told Morning Report the zero deaths was "an amazing result".Greal said it was a combination of a huge effort by many people, but there was still a lot of work to do in terms of road safety."We need to be looking at a systems level to properly understand it for the long-term game, certainly in terms of sustainability."From a policing perspective, the police effort is a part of that system and from our point-of-view for the last two years, we've done a lot, quite a significant change in the way we deploy our people."Greal said 73 percent of accidents occurred on open and rural roads so it made sense for people to be in those areas, where the greatest harm was occurring.The enforcement of such areas had doubled in the last couple of years, contributing to "general deterrence", he said.Greal told Morning Report the weather warnings could have made an impact, with some people choosing to stay home instead of being out on the roads.But that did not deter everyone, and he said he saw some people doing "horrendous speeds" on Transmission Gully in Wellington in "teaming rain", which was not a good look.Earlier, New Zealand Transport Agency spokesperson Andy Knackstedt warned people not to be complacent on the roads.He said even if there were no deaths, those who are seriously injured in crashes can have lifelong impacts."We're just asking people to do the basics - drive and travel at a safe speed, to share the driving, make sure you're well rested, and just take the the time that you need to to get home safely."In earlier holiday road tolls this year, the ministry said seven people died during Easter, four died during King's Birthday, and one died during Matariki.

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