For the first time in history, more people are living in urban communities than in rural areas. Urban living passed 50% in 2009 and it keeps growing. More than this, cities account for around 60% of global GDP, 70% of greenhouse gas emissions, and 80% of annual emissions increases.
It’s a fascinating development. As the growth engines of the global economy, cities are competing with each other to achieve greater quality of life for their citizens. At the same time they offer the best hope in the battle for environmental sustainability.
The ability of nations to compete and not to destroy is being defined by the intelligence of new city design. As Stewart Brand ‘Whole Earth Discipline’ said:
Cities accelerate innovation; they cure overpopulation; and while they are becoming the Greenest thing that humanity does for the planet, they have a long way to go.
According to Cisco, there are roughly 1,900 cities throughout the world with populations of 250,000 or more. Twenty-six of these cities have over 10 million inhabitants.
Yet, as cities grow they apply stress to infrastructure and essential services while budgets remain tight. They face unprecedented challenges, to improve the quality of life for citizens, provide better services, make mobility easier, reduce pollution and make better use of scarce resources including water and energy.
They need new solutions to become smart cities on a massive scale.
Around 27% of the world’s cities are viable candidates for smart city solutions to these challenges over the next three to five years. That equates to a global market opportunity of $7.5bn each year; an opportunity for technology vendors to support major smart city initiatives.
But applying smart solutions on this scale raises two major questions: how do you manage these undertakings with so many variables and stakeholders? And how can new technology such as Smart Cities contract management software be employed to keep it all together?
Overspend and overrun are large and likely risks, as massive new urban projects are identified, discussed, designed and implemented. This means that contract management solution will become an essential component of civic life.
Here is where 8over8’s ProCon software can help. With a track record of success in the oil and gas industry, it is readily applied to alternatives – major infrastructure projects, and smart cities that are racing to keep up with technology. It helps by reducing risks, easing disputes, and keeping control of costs.
But as well as road-tested project control solutions, smart city development needs the new capabilities and benefits of the IoT (Internet of Things), linking real world devices across the web.
Cities of tomorrow can put Living PlanIT, at their heart. They can use the PlanIT OS™ operating system to provide real-time management of new civic systems, from car park management to flood defence activation, signage, lighting, navigation and everything in between. Living PlanIT is leading the IoT evolution to Edgeless Computing, where digital and biological systems converge with urban infrastructure.
The future is cities as we’ve never known them before.
Discover if your current technology is fit for purpose when managing the contractual project risk by reading our white paper ‘Contract Management for capital expenditure’.