As per industry market research, Digital transformation spending will approach the $2 trillion mark in 2022. The question now is how much of this will translate into ROI for the organizations. Its estimated that by 2020, nearly 30% of the global 2000 companies will allocate 10% of revenue to digital strategies.
Artificial Intelligence (AI) plays a big part of this digital transformation along with technologies including IoT, Augmented and Virtual Reality, automation, 3D printing, 5G, edge computing and a lot more. The influence of this disruptive technology is no longer limited to computer science. It has influenced other areas such as manufacturing, automobile, healthcare, logistics, and business applications.
Business executives will see AI based digital transformation as a long-term investment. So where does AI feature in the Smart World context? A smart world leverages AI, analytics, big data, IoT, AR/VR and other technologies to enhance cities, mobility, Healthcare, Agriculture, Education, IT & other industry verticals.
The definition of a smart city is relative to the technology incorporated and its adoption to meet the demands of the people of that city for a safer, effective and efficient solution to their problems. For a city to be classified as a smart city, it must incorporate information and communication technologies (ICT) to enhance the quality and performance of urban services such as healthcare, utilities, energy, and transportation.
Aim of smart city is to enhance the quality of living for its citizens through smart technology.
- Improve the livability conditions by providing clean and healthy environment. The digital transformation enables a pollution free, reduced traffic congestions that makes city services instantly and conveniently available anytime, anywhere.
- Incorporate technologies that sustain and uplift the quality of life and working environments
- Facilitate governance and regulations that promote smart city creation
- Knowledge based practical application of technologies that foster innovation and enhance the knowledge that they offer
AI’s role in a smart city
Artificial intelligence is an amalgamation of computer science, philosophy, psychology, neuroscience, linguists, control theory, information theory, philosophy and so many other disciplines of science, mathematics and life.
Applying AI principles, practices and applications to smart cities require an inherent reliable network infrastructure. The communication channels across the disparate systems is fueled by smart sensors and IoT that are enhanced by AI. Huge volume of IoT data that are captured by the AI enabled sensors is transformed into actionable and intelligent insights. Leveraging these insights is essential for making the smart city a success.
Smart mobility is the basic requirement for a smart city. This concept attempt to alleviate the mobility and traffic management challenges that the cities face. This essentially encompasses smart infrastructure, data integration, and smart services.
AI leverages the sensors, IoT, big data, machine learning, geo-location, biometrics and deep learning that form the basic building blocks of smart mobility systems. The Intelligent Transport Systems (ITS) helps to manage road transport, traffic management, and mobility through the optimal utilization of traffic infrastructure, vehicles, users, traffic control and mobility management.
Necessary hardware and software infrastructure is required for using the insights obtained from the real time analysis of the constant flow of unstructured data gathered through various sources. Typical use cases for AI enabled smart city include plans for car navigation, traffic signal control, automatic registration plate recognition and speed camera management for streamlined vehicular flows.
Smart cities essentially constitute providing highly efficient urban mobility and public transport options to citizens. In a smart city environment, this translates to facilities such as big data and AI-powered Bus Rapid Transit (BRT) management and logistics visualization services. Other common aspects include smart ticketing, parking management, passenger information systems, traffic management and integrated supervision.
As per market research the smart mobility market comprising of infrastructure, technology, solutions and services are expected to reach $20.14 billion by 2023, growing at a CAGR of 19.9%.
Business are investing to capitalize on this huge potential market. Its evident in the way all the major cloud platforms like Amazon Web Services, Microsoft Azure and Google Cloud Platform now provide access to GPU arrays for training and running machine learning models. It’s now possible for users to the train and run their machine learning models using Google’s Tensor Processing Units that allows the custom chips design to be optimized.
AI will continue to accelerate smart cities development. Their progress is a combination of technology, business and cultural initiatives that boost the quality of life for residents, increase the ease of doing business, and attract more investment and attention from global companies.
Organizations can increase their business prospects with the quality insights and research available from Infoholic Research’s analysis on various aspects of the AI influence on smart cities. Get in touch with our executives for a comprehensive update on this area here Contact Us
– Shantha Kumari,
Sr. Technical Writer