SMART CITY PLANNING FOR A SMART ECONOMY

SMART CITY PLANNING FOR A SMART ECONOMY

When you’re at home, how often do you use a smart device? Several times, whether consciously or inadvertently. These gadgets have become an important part of our life, whether it’s a smartphone, wearable, personal electronics, smart lights, or tablets. Multiple smart devices are now termed “intelligent devices” in our houses. The drive for smart spaces or cities, on the other hand, stretches well beyond our houses.

We are living in a period of urban transformation. People are migrating to cities in greater numbers, and cities are fast changing. By 2050, the UN estimates that 68 percent of the world’s population will be living in cities. Not only is accommodating more people difficult, but these communities are also attempting to balance “quality of life” and “sustainability,” which are major concerns worldwide. These concerns can be addressed through smart city efforts.

What does a smart city resemble?

A smart city idea focuses on using technology to efficiently manage a city’s assets and resources in order to enhance service quality and, hopefully, the quality of life for its people.

Six building blocks make up the technology. It includes what are referred to as “clever people.” Economy of smart cities intelligent mobility, intelligent environment

It also comprises smart living and smart governance, which, when combined, may help to realize the smart city plan by enhancing social inclusion, technical inclusion, economic development, and environmental sustainability, all of which help to drive the smart economy.

People with Intelligence

Professional excellence, a high Human Development Index, an integrated education system, attracting knowledge workers, residents opting for e-learning models, embracing technological changes, maintaining a healthy lifestyle, and contributing to making the city more livable are all attributes required of smart people, who are at the heart and fundamental block of the smart city system.

People with Intelligence

Professional excellence, a high Human Development Index, an integrated education system, attracting knowledge workers, residents opting for e-learning models, embracing technological changes, maintaining a healthy lifestyle, and contributing to making the city more livable are all attributes required of smart people, who are at the heart and fundamental block of the smart city system.

This is just one example of the many ways in which technology may assist. As a result, establishing a center for learning new technologies and promoting technological investments are critical.

Economy of Smart Cities

The characteristics of an ideal smart city economy are numerous; nevertheless, in a nutshell, the city should be well-versed in its economic DNA and work closely to stimulate entrepreneurship, investments, tourism, human resource, natural resource, and innovation.

A smart city economy is made possible by a specialized innovation hub, e-commerce, and business center. Technopolis is a concept that has the potential to enhance the city’s and nations economic growth.

Mobility that is smart

Mobility should be considered not only in terms of cars, but also in terms of people. Although traffic is the misery of many city dwellers’ lives, technology can provide some potential long-term mobility alternatives.

For example, public transportation routes may be modified in real-time to meet demand, intelligent traffic signal systems can reduce congestion, traffic management, public transportation applications, intelligent bus stops, automobile sharing apps, parking sensors, and so on.

Technology-enabled ICT, logistics, and public transportation may alleviate traffic congestion and keep it moving.

Environment that is smart

Another important component of the smart city system is the smart environment. With the aid of network and environmental monitoring, as well as energy efficiency, the goal is to protect the ecological and environmental system.

Technology plays an important role here as well. Monitoring distribution networks and employing sensors in containers, as well as providing environmental information and warnings.

It also uses applications to detect accidents, electric vehicles, intelligent lighting, smart grids, and a variety of other technology solutions to achieve the efficiency and outcomes that a smart city aspires to achieve for everybody.

Smart Living

What factors influence smart living? The city’s aesthetic daily existence. However, getting there isn’t simple. Health and safety, as well as technology accessibility, must be prioritized.

Because everything revolves around technology, how can smart living be any different?

Telehealth, video surveillance, Wi-Fi, optical fiber, appointment booking applications, and other technologies all contribute to the overall image of urban viability and resilience.

A smart city should have a lively core that is open 24 hours a day and offers convenience, fast mobility, and connection, as well as social cohesiveness.

Governance that is smart

Smart governance is the final component and a requirement of a smart city. A perfect smart city is one that governs with ART (accountability, responsiveness, and transparency).

ART can be driven by e-municipality, city council social networks, GIS, smart justice, and other smart technologies.

Other technology solutions, including as Web portals, online forums, mobile applications, and unified services, can also assist citizens communicate with the government about their concerns, ideas, and criticisms.

G2C (Government to Citizen), G2G (Government to Government), G2B (Government to Business), and G2E (Government to Employee) are the four methods that governments may use to accomplish this.

The most significant obstacles to the development of smart cities are:

  • Lack of interest
  • funding
  • Illiteracy

To remove the barriers in successful smart city efforts, funding is a crucial problem that must be addressed. The country’s regulatory structure plays an essential role in tackling the financial problems.

The municipal government can apply to the federal government for grants, subsidies, national investment, and infrastructure money. It can, on the other hand, choose direct funding by issuing shares or other long-term financing options.

Financial institutions can use indirect financing, municipal bonds, equity market instruments, mezzanine financing, or Real Estate Investment Trusts, as well as explore overseas funding possibilities.

Another issue, namely, a lack of interest, might cause roadblocks, and this lack of interest could be due to a lack of E-literacy.

What factors contribute to the success of smart cities?

  • Ubiquitous wireless connectivity: The smart city’s connectivity must be of high quality and dependable. To enable the unprecedented level of interconnectedness and convergence, high-bandwidth, low-latency, future-proof networks are required. Fiber-optic cable is also an excellent choice for today’s smart city applications and future technologies.
  • Open data is created whenever you chat on the phone, drive a car, or just track your workouts using wearable devices. But have you ever considered what happens to that data? A large portion of it is utilized to improve products or create new algorithms. But how might open data benefit a smart city? It aids in getting insight into people’ lives, resolving difficulties, and assisting in the development of more equal and inclusive services.
  • Security that can be trusted: The cost of a security breach is enormous. Unsecure devices, gateways, and networks provide fertile ground for hackers interested in wreaking havoc across the city and perhaps taking control of the system. Authenticated, authorized, and encrypted communication will be ensured by a collaborative effort comprising partners such as sensor and actuator manufacturers, gateway providers, standards bodies, and even operating system developers.
  • Flexible monetization schemes: Smart cities should be able to provide a variety of pricing options in order to earn lucrative income. So, how can this be used? Some of the possibilities include bridge and highway tolls, recycling and trash loyalty points, parking subscriptions for consumers and commercial fleets, subscriptions to city-based wifi access, and Elearning resources

IoT Smart City Trends

Cities that realize the value of IoT infrastructure and implement middleware and cloud systems to support it can collect and utilise considerable benefits over time.

Smart cities can benefit from 5G because of its speed and connection.Another development that helps smart system efforts to anticipate possible problems, hone in on possibilities, and obtain results is data analytics.

Beyond cryptocurrencies, smart cities may use blockchain to provide safety and security in their many projects.

Automation: The low-hanging fruit in the AI category may also help organizations become wiser by increasing the value of their employees.

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