Transparent metrics to measure economic impacts are critical to unlock smart city potential: Report
An integrated approach, leveraging enterprise agility, data-driven decision-making, and advanced technologies such as digital twin simulations are required to create more cohesive and effective smart city environments, an industry report said.
Actionable measures based on data and tech-driven insights will significantly empower cities to achieve genuine, measurable gains amid rapid urbanisation, the joint report by JLL and Honeywell, said.
The report, described as a whitepaper, identified organisational fragmentation, technological integration and workforce readiness as key challenges hindering smart city progress currently.
Smart city developments
'By focusing on outcomes and data-driven insights, organisations can ensure that investments are aligned with strategic goals and deliver measurable value,' the report said.
The whitepaper also underscored the importance of establishing rigorous performance metrics to measure the success of smart city initiatives.
Dr Matthew Marson, Managing Director EMEA, Technology Advisory at JLL, said smart cities are crucial in addressing critical urban challenges of resource management, citizen well-being and city-scale attractiveness.
He said: 'Realising this potential requires a fundamental shift in how we approach such initiatives. Our new white paper provides an action-oriented roadmap for organizations to overcome the barriers in this journey, ensuring that their smart city projects deliver tangible benefits to both the enterprise and the city's inhabitants'.
Mohamed Moselhy, Global Smart Cities Director at Honeywell Building Automation, said the future of smart cities hinges on breaking down silos and fostering seamless integration between advanced technology, governance, and human capital.
'By implementing transparent performance metrics, we ensure that smart city investments not only help drive sustainability and economic growth, but also create truly connected, responsive urban environments that evolve with societal needs,' he said.
Outlining an integrated approach, JLL and Honeywell emphasised the need to break down departmental silos in organisational structures through unified governance and cross-functional collaboration among stakeholders.
A similar approach is recommended to address technological and construction complexities and to seamlessly integrate IoT sensors that monitor air quality, energy consumption, or occupancy with building management systems, analytics platforms, and occupant engagement apps.
Additionally, adopting digital twin technologies to create virtual replicas of buildings and infrastructure will enable organizations to predict outcomes, reduce risk, and accelerate learning, the whitepaper said.
The whitepaper also highlighted that investing in training and skills development will be critical to equip the workforce with the necessary tools to navigate the evolving smart city landscape.
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