Category FAQs Search : Smart City
Question: The economic value of smart city technology
Answer: "Smart cities" is a label that has achieved adhesion in the academic world, business and government to characterize cities that are progressively constituted of and observed by prevalent and omnipresent computing, and whose economy and administration is being directed by innovation, inventiveness and entrepreneurship, established by smart individuals. The smart city calendar and related technologies are being considerably advanced by several of the world's most relevant software services and hardware firms who regard city governance as an enormous, long-run possible market for their goods. One important feature of the smart cities notion is the development of complex data analytics for grasping, supervising, organizing and planning the city. (Kitchin, 2014) Data is both the thrust behind smart city proposals, and in addition the methods by which they are enforced, but the fundamental objective of the schemes is furthering economic advancement. The smart city concept mainly coheres around approaches for economic growth in a period of austerity. The smart city constitutes the most recent in an interminable line of policy patterns that regard science and technology as sovereign remedies for economic depression. The potential of the smart city imaginary to encapsulate the intentions of firms (Orasanu, 2012), policymakers and average individuals makes it a significant method via which cities are being (re)created. (Shelton et al., 2015)
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(Source: Gala Academic Onefile, 24 Mar 2020)