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People & Society
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Insight
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2 minute read

Embracing the value of Smart City technologies

The rapid advancements in artificial intelligence have matured Smart City technologies and brought them to a stage where it is crucial for government leaders to harness the positive experiences, expand their scope, and implement them comprehensively. 

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key takeaways
1.

The convergence of data, sensors, Internet of Things, and artificial intelligence have paved the way for innovative solutions in cities that are not only efficient but also environmentally friendly.

2.

Leaders within the government and public sector can utilise learnings from existing projects, as cities worldwide have made significant strides in leveraging Smart City technologies to address environmental challenges and enhance citizen experiences.

3.

While effective Smart City solutions exist, the critical need is to scale their implementation, leveraging the potential they offer for sustainable urban development and operational efficiency.

The value of Smart City Technologies

The integration of technology into urban infrastructure holds the promise of creating cities that are not only smarter but also more sustainable and liveable. From optimising energy consumption to reducing carbon emissions, Smart City technologies offer tangible benefits for both the environment and the quality of life for citizens. 

The access to artificial intelligence technologies have helped propel Smart Cities closer within reach, which underlines what 79 percent of CEOs agreed in the latest Fortune/Deloitte CEO Survey – that accelerating innovation is one of the top use cases for Generative AI. The latest developments of Smart Cities present leaders within the government and public sector with examples to follow.  

Finding inspiration in real-life examples

In Victoria, Australia, the development of a “digital twin” by Deloitte has enabled real-time simulation of complex scenarios for infrastructure development and maintenance, revolutionising urban planning and transportation management.  

Similarly, in Brussels, the implementation of a CO2 dashboard and green transparency initiatives has not only facilitated informed decision-making for citizens but also incentivised environmentally conscious choices. 

In Cascais, Portugal, the municipal government has harnessed Smart City technologies to address the substantial environmental impact of over 1.2 million annual tourists. The city has implemented innovative tools to manage the influx of visitors, ensuring minimal environmental disruption. This initiative resulted in a 40% reduction in operational costs and a 20% decrease in energy costs in waste management, saving €900,000 annually.  

The need for action

According to the Global Circularity Report, the global economy has fallen to just 7.2% circular, highlighting a global situation that gets worse year on year. Herein lies a path that requires a fundamental transformation of economic activities, which is only achievable with collaboration across the private sector, public sector, and society. Smart Cities delivers on just that.  

Despite the existence of proven Smart City solutions, the challenge, however, lies in their widespread adoption. It is essential for cities to embrace these technologies and scale their implementation to realise their full potential in addressing environmental concerns and enhancing urban living. As leaders in the government and public sector navigate the realms of urban planning and energy optimisation, the potential of deriving value from data through artificial intelligence is unprecedented, marking a significant leap in sustainable urban development.