Cities are getting smarter, and the organisations operating in them must adapt. As new technology gets wired into the city, it’s revolutionising urban efficiency and improving the lives of citizens. At the same time, it’s set to fundamentally alter business and operating models. The job of the treasurer and the finance function more broadly is to support this change; to create order and clarity.
So, what is a ‘smart city’? It’s a city where governments are working to deploy advanced technology to achieve a step change in efficiency with consequent benefits for all citizens. The concept is rippling across many areas – including energy and the environment, buildings, infrastructure, mobility, health and even the governance of the city.