Smart Cities are expected to drive over 5% incremental growth in global economic development which is about USD 20 trillion in additional economic benefits by 2026, according to a report from ABI Research.
This isn’t surprising when we consider that the development of smart cities comes at a critical time and may be the key to improving the lives of billions of city-dwellers. The UN Population Fund estimates that the number of people in urban areas is expected to reach 5 billion by 2030, further straining national resources and posing serious infrastructure challenges such as transportation, water and waste management, energy efficiency, and emergency services.
But with Smart Cities, a myriad emerging and existing technologies, such as cyber-physical systems (based on the Internet of Things and machine-to-machine connectivity), 5G networks, machine learning, artificial intelligence, automation, robotics, and data analytics, can be smartly leveraged to provide the necessary solutions.
For technologists, corporations, and government agencies, smart cities are a convergence point for collaborative innovation and experimentation. At Straight Talk, we seek to share the experience-based insights of technology executives. Here are their views of the opportunities for technological convergence in smart cities:
Source : Straight Talk