widely . Novel and dynamic pricing , including payas-you-go and user pay , can also give investors greater confidence in a reliable revenue stream .
The Future of Smart Cities – Barclays
The heralded rise of smart cities was expected to bring data-centric solutions to urban challenges . Whilst Asia remains ahead of the curve , legacy cities ( particularly in the West ) are now feeling the pressure to upgrade ageing infrastructure . The COVID-19 pandemic , mounting sustainability commitments , resource constraints and continued urban growth are making a new case for investment . It has never been more crucial to make cities smarter , more efficient , and more sustainable for their residents .
The accelerated development of new technologies , including 5G , AI , cloud , and edge computing is helping to drive the evolution of smart cities . We are in the early stages of an edge computing revolution and it is critical to support the exponential increase in the number of connected devices and the vast growth in data collected . Approximately USD20 billion of opportunities across hardware , software , and services could be deployed at the edge by 2023 , with a significant upside to those numbers in the long term .
Investment in reliable technology and highspeed connectivity is central to smart city buildout . The expedited shift to work from home in 2020 is driving the need for reliable and secure high-speed connectivity . As vital infrastructures become connected , cities must be aware of vulnerabilities to adversaries . Telecom and technology companies must increasingly collaborate with Governments and invest in reliable networks , cybersecurity and backup systems .
The Future of Smart and Inclusive Cities – UNESCAP
With the majority of future urban growth predicted to occur across Africa and Asia , it is urgent that the Asia Pacific region commit to building healthier and more inclusive cities for their most vulnerable residents . Building digital inclusion into the very core of the urban fabric means creating spatial , social and economic conditions for all residents to live , work , play and thrive with equitable opportunity . These considerations need to be carefully considered in the light of emerging smart city capabilities so that no one is left behind . Without appropriate planning and active community engagement , smart city innovations risk exacerbating existing , or even creating new , urban health inequalities .
Although the definition of the smart city concept varies across regions and institutions , in most cases the term “ smart city ” is aimed at utilising digital information and communications technology ( ICT ) innovations to make networks , systems and urban service delivery more efficient to benefit businesses and residents ( OECD 2020c ). Because smart city applications may incorporate both big data collection and changes to physical urban infrastructure , smart city planning is intrinsically linked to the health and well-being of urban residents .
Over the past decade , Asian and Pacific cities have led the way in developing leading smart city programs , focusing on distinct priorities that reflect a wide variety of municipal needs and digital capacities across the region . Many innovations have concentrated on improving the built environment , transportation , sanitation , health care and education — all factors that significantly influence health outcomes . Still , smart cities have not yet realised their full potential in advancing a holistic urban health agenda . Rapid technology advances in sensing , artificial intelligence ( AI ), machine learning , and communication technologies , have created unprecedented opportunities to improve urban health and reduce inequalities . However , there have also been an increasing number of smart technologies ‘ overreaches ’ in Asia Pacific cities , which blur the line between surveillance
61