- Many companies investing in smart city technologies are too focused on the consumer side of IoT (the “flashy side”) and are hindered by outdated, inefficient backend infrastructure forcing them to rethink their strategy.
- Knowing that things will go wrong in the early years of smart cities and IoT technology adoption, it will take a select few to be the first movers, take the risk, and carve the path for others.
- In order to reach the next phase of “smart cities,” companies involved in the on-demand ecosystem will need to optimize their own resources through a dynamic technology that enables more efficient and effective processes.
- Despite what many might believe, we’ll likely see rural areas – not major cities – adopt smart technologies such as delivery drones and autonomous vehicles first.
- Instead, rural areas not only provide open skies and sparse populations, but these communities actually stand to benefit the most by utilizing optimized smart technologies that provide efficient, low-cost and timely services.
- The ratio of data quantity produced versus data impact is an important indicator in innovation’s engine speed .
- The more technology advances, the more data quantity increases, and the more we need new, advanced technologies to process this data and extract valuable meaning from it.
- We are where we are thanks to our brains’ capacity to imagine and build models for the data we’ve collected and to draw lessons from that data.
- But the ratio of data quantity produced to data impact is really small because datasets are getting more and more complex and need more and more intelligence to process them.
- Don’t get me wrong; we are still innovating and using data in various ways.
Humans have been storing, retrieving, manipulating, and communicating information since the Sumerians in Mesopotamia developed writing in 3000 BCE. Since then, we have continuously developed more and more sophisticated means to communicate and push information. Whether unconsciously or consciously, we seem to always need more data, faster than ever. And with every technological breakthrough that comes along, we also have a set of new concepts that reshape our world.
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