Smart Cities, new public-private partnership models

By 5 July 2018Scenario
AR Smart City: screenshot

Smart technologies have a number of benefits for urban communities, as they can contribute to significant improvements in sustainability, livability, public safety, and more.

New report from the McKinsey Global Institute, Smart cities: Digital solutions for a more livable future, points out another valuable opportunity: smart investments open the door to new public-private partnerships, boosting City economy and generating additional revenue streams for municipalities.

Technology once forced Cities to define capital-intensive and long-term plans, in most cases locking them to the supplier and legacy systems they selected. Now, when choosing open standards platforms such as PE Smart Urban Network, Cities can extend the infrastructure and its applications at their own pace, dynamically responding to citizens needs and expectations.

Moreover, City government does not have to be the sole funder and operator of every type of application. Public money may be reserved for essential services, while private actors can be invited to step forward to design additional applications and offer more to people and local businesses.

Think of urban mobility. Private parking facilities may be interested in leveraging the existing City infrastructure and field generated data to develop a Smart Parking mobile app, working with shops and restaurants to implement online booking services, parking coupons or valet services. Privately operated on-demand taxi or minibus services may be set up and launched much faster, if relying on a pervasive City network. And other companies may integrate their own services and proposals over time.

Smart techonologies empowers individuals and businesses to shape the future of the communities they live in – collaborating more intensely with City government and managers.

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