Smart cities revolve around the idea of using new, connective technologies to make urban living more efficient, cost-effective and more environmentally friendly. The smart city industry is projected to be a $400 billion market by 2020, with 600 cities worldwide. These cities are expected to generate about 60% of the world’s GDP by 2025, according to McKinsey research.
Building the infrastructure needed for a smart city is resulting in a demand for new job roles with new skill sets
. Cities are becoming more willing to collaborate with academia and the private sector to create opportunities for localized innovation by setting up Urban Incubators
. As Architects and Urban Planners, we can leverage the core skills we have with our knowledge of how buildings & cities function and add value to such incubators. But we definitely need to raise our game in understanding cutting-edge technology.
The focus of this week’s TGIC is to look in-depth into some of the ingenious technology solutions produced by startups and citizen-led efforts, that drive innovation in the big smart cities.
Until next week,
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