In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.VISIT NEW SITE
The Biggest Changes Smart Cities Will Create
3 minute read
The views and opinions expressed in this article are those of Peter Carr. You should not act on these views or opinions without undertaking your own due diligence as to the voracity and accuracy of his views and opinions. These views and opinions may be wrong or misleading.
Technology Analyst, Peter Carr explains how the cities of the future will be revolutionised through the Internet of Things (IoT) and how the creation of Smart Cities will evolve the urban environment, force advancements in congestion management and enhance personalisation. Speaking with The Capital Network’s Lelde Smits.
Lelde Smits: Hello I’m Lelde Smits for The Capital Network and joining me in the middle of Sydney’s CBD, Pitt Street, is business advisor and tech analyst, Peter Carr. Peter welcome.
Peter Carr: Hi Lelde.
Lelde Smits: We hear so much about Smart Cities. Can you start by explaining, what exactly are Smart Cities?
Peter Carr: A Smart City is not just one thing. There are about six parts that make up a Smart City. So, we’re really talking about a super urban complex. So, it could be a string of cities together within a certain geography and also a multi-industrial complex. So, it’s all industries, it’s not just government.
Lelde Smits: For the everyday citizen who might be asking how may smart cities impact me, even for the case of congestion on the roads. How might the issue of transport be tackled by the evolution of a smart city?
Peter Carr: A lot of the early work around smart cities has been about tackling some of these big problems. And, this concept of urbanisation is one of the big ones. So, by 2050 72 per cent of the world’s population are going to live in cities. So, that is about 42 per cent more than now, so we’re going to be really, really crowded. So, these smart city solutions are designed to help us live in these really complex overcrowded environments. So, a lot of activity has been poured into the transport sector so far.
Lelde Smits: Terrific. So, for the everyday driver, how may they notice there experience change with smart cities?
Peter Carr: So, I think the thing with cars and smart cities is that cars used to always be about freedom, but, it’s hard to feel you’re free and you have this wonderful opportunity when you’re stuck in traffic. So, apart from the parking side of things. What we are also going to see is cars interacting with other parts of the environment.
So, there are a few different things. As you’re driving past a billboard, your connected car will connect with that billboard and you’ll actually see very specific advertisements targeted at you. Maybe you are due for a holiday, maybe it’s your wife’s birthday, maybe your car is due for a service, all those different things will pop up on the service. So, it’s about a more personalised service as well.
Lelde Smits: Great, and finally what is exciting you the most about smart cities in the future?
Peter Carr: I think what is exciting me most is the opportunity for all these different organisations to work together. And, that is what is required. It is about local government, and state government and federal government working together with universities, commercial organisations and technology suppliers and the people who live in the city.
So, we’ve never been in the position before, or had the opportunity to apply all these things to singular solutions. So, we’re going to move away from the situation where if you’re a shop owner and they are doing work here in the Pitt Street Mall, that you may have three different levels of government digging up your footpath over six months doing different sorts of projects. And so this collaboration is going to be really important.
Lelde Smits: Great, thank you Peter for your insights today.
Peter Carr: Thanks Lelde