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28 Jan 2021

Mobile World Live

Roads in night

Open For Debate: Is funding the biggest hurdle to the success of the Smart City?

The transformative value of Smart City technologies and solutions is undeniable. Lower traffic congestion. Improved air and water quality. More efficient use of energy resources. Digital inclusion of businesses and citizens, alike. The list of promises goes on and on. And, in many cities around the world, these promises are actually being realized. Unfortunately, in many more, the promises remain out of reach with narrow use cases and data stuck in application siloes. 

To be sure, municipal aspirations cannot be blamed: 62% of public sector IoT deployments were positioned as part of a broader digital transformation initiative. And yet, the lack of financial resources necessary to deploy foundational, cross-cutting Smart City networks and applications often results in point solutions which do nothing more than connect one stakeholder’s assets – far from the Smart City vision. Municipal governments have long lived under tight budget constraints. 

Now, as economies emerge from the Covid-19 pandemic, those constraints will only be magnified. Against that backdrop, how can we turn Smart City promises into broader Smart City realities? More importantly, can we expect to execute on the full potential of Smart City visions unless we can solve this critical issue?

Nokia speakers

Jacques Vermeulen, Director Future Cities

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