Smart cities are not just a business opportunity with a US$ 2 trillion market by 2025 (according to new forecasts from Frost & Sullivan), but also a great platform to provide data, information and ultimately insights to make informed decisions about the infrastructure that supports our cities, communities and economies.
Every type of urban infrastructure, whether it is transport, water, waste, energy, buildings or bridges, is an integral part of the ‘fabric’ of a city in which our societies live and develop and form the basis of its livability. The health of a city is determined by the fluidity of its functioning, the places it provides and the connections it has with its inhabitants.
To help us understand and interpret our cities and their requirements, the Fourth Industrial Revolution is already making waves. Technology including Internet of Things (IoT), Artificial Intelligence, Machine Learning is providing data; a crucial input for effective asset management.
Here are examples of how technology is being used to provide data from assets.