Addressing Smart Cities' challenges
Smart city leaders should incorporate a set of key success factors to secure the success of future investments:
- Smart Cities are more relevant than ever: over USD 300bn invested across 2,200+ initiatives over last 3 years, with similar growth expected for the years to come
- Such investments are at danger if smart city leaders don’t address common challenges across the ecosystem
- Smart City leaders should consider 4 key success factors when planning for a successful smart city deployment
- Move beyond traditional smart cities and learn from experiences’ providers
- Invest in data management capabilities
- Implement a smart city governance model for effective service deployment
- Balance public/private investments to achieve long-term sustainability