We’ve been witnessing so much growth, starting from the appearance of the Internet to the updated versions. Web2 to Web3 and now Smart Cities from 1 to 2. The fusion of technology and urban planning is redefining the way we live. A smart city is a vertical of Internet of Things —a term used to define a network that not only connects people but also the objects around them.
Urban planning has undergone a digital metamorphosis thanks to innovative IT solutions. Cities like Singapore and Dubai are pioneering the way. According to the latest research data, South Korea is leading the way in implementing smart city initiatives. In my travels, I noticed how other cities and countries are trying to win this competition.
The Internet of Things is the heartbeat of Smart Cities 2.0. IoT applications, from smart traffic management to waste disposal, are reshaping urban landscapes.reports that the number of connected IoT devices worldwide is expected to surpass 30B by next year already. Cities embracingin operational costs, making a compelling case for its integration. And now, clearly, we can witness that data has become a new currency in city governance.
At the same time, PwC highlights that cities investing in sustainable practices witness a 25% increase in citizen satisfaction, fostering a positive environment for businesses.On the path of implementing IT technologies, like IoT and Big Data, we should ensure the pivotal role for entrepreneurs in the IT market.
As a business owner, one of the most important assets is human capital, which includes tacit and explicit knowledge. Cities should attract talent to live there and work in the local economies. We have many examples of that around the world, by attracting talents they are leveraging all ingredients for the implementation of technologies to build different cities with completely diverse goals. By combining all of these aspects, I’m sure we will witness the growth of these Smart Cities.
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