Innovation and Technology: The hallmark of smart cities
With technology setting new boundaries, urban areas are likely to undergo a complete makeover, shifting gears of peoples’ lives significantly. According to experts, with time the number of connected devices will tower above the number of people and is anticipated to reach a whooping 50 million by the end of 2020. This ensures the possibility of inter-connectivity between buildings and houses, making life better for people.
- Lucidity- Successful cities fit themselves in the minds of people. Calculated zoning, street grids, adequate public space along with state-of-the art architecture are the points to go by when defining a vibrant city.
- Receptivity- History testifies the fact that cities that welcome new ideologies, modern forms of commerce and new people serve a long tenure and makes a name for itself.
- Correlation- The need for people to connect fuels urbanization. Proximity is an essential aspect that cannot be overlooked. Markets are easier to stick up for, resources can be conveniently shared and ideas can be exchanged with ease when regions are connected astutely.
- Making a difference
Few of the prime cities in the nation are aided by network information, and some use modern technology to solve day-to-day issues, such as managing traffic problems, offering information about safe commuting and security usage. With the use of technology, cities can also guide the commuters to places where there is low traffic and become a boon for travelers.
Going by a concept-named Crowdsourcing, people can make the effective use of technology and address the administrative issues by uploading photographs of different potholes in a city. Thus, as a result, will draw the attention of the authorities easily.
What we want in future?
Technology firms (like IBM, Microsoft and Intel) have come up with a range of software that can put a nip in the bud of all the existing problems of a city. As a result, with the cutting out of issues such as water leaks, traffic congestion and air pollution, the real estate market of a city will gain a few pounds and will rise to its top echelon. Erosion of city’s existing problems will make it a potential area for real estate growth and development.
Perhaps, the rise in interconnectivity between cities is the most transformative use of technology in modern times. Public bike systems, car sharing, crowdfunding platforms, online renting of unoccupied living spaces etc. have accelerated the process of informal resource sharing and have turned cities far more efficient than ever. This as a result has thrown open a number of lucrative doors for various sectors, real estate being one of the prime.
