Smart city investment may double to $2.7bn

Smart city investment may double to $2.7bn
Published: 18 September 2019 - 8:33 a.m.
By: Staff writer

Money spent on smart city solutions – from artificial intelligence (AI), zero energy buildings and driverless cars – in the Middle East and Africa could double by 2022.

Dubai is leading the region in its preparedness for the smart city future when technology is used to make the places we live and work more efficient and sustainable.

Investment in building cities with next-generation tech, such as AI and the Internet of Things, is expected to rise from $1.3bn (AED4.7bn) last year to $2.7bn (AED9.9bn) by 2022, according to a report by KPMG.

Dubai wants the entire emirate to become a smarty city and continues to explore ways to increase this, digitising things such as government services and pushing the envelope for flying taxis, like the Volocopter, and driverless cars.

Speaking on the sidelines of the Annual Arab Future Cities Summit, Rémi Pouchucq, business development manager, Schneider Electric, said the UAE is setting the pace for innovation.

“Large investments are going into technologies that enable smart cities and the UAE has set itself as a benchmark for smart city innovation in the region,” he said.

“With urbanisation moving at its current pace, developing solutions that tackle issues in terms of energy, safety, mobility, sustainability and overall wellbeing remain at paramount importance to us at Schneider Electric.

“Thanks to the numerous government-lead initiatives, businesses and individuals are becoming increasingly aware of new gateways that technology opens for them, helping them identify and respond to the critical need to be planet- and profitability-compatible. We look forward to being part of this move towards building the smart cities of tomorrow.”

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