Millennium Post

Cities of tomorrow will come at a cost: experts

Investment of about USD 1.2 trillion is required over the next 20 years across areas like transportation, energy and public security to build cities of tomorrow, IBM India managing director Shanker Annaswamy said on Thursday.

Speaking at the IBM Smarter Cities Forum, Annaswamy said it is estimated that USD 1.2 trillion capital investment is needed to meet projected demand in Indian cities to transform the cities going forward.

IBM has hosted similar events across cities like Berlin, Shanghai, New York City and Rio de Janeiro.

‘By 2050, it is estimated that 70 per cent of the global population would live in cities as people migrate to urban areas for better opportunities.

‘This would mean that cities need to be planned in a way to effectively handle the situation. Technology can be used to support the system and transform cities,’ IBM Corporation chairperson Samuel J Palmisano said.

IBM is working with countries like Saudi Arabia, the US and Philippines on systems like water and waste management.

It is also working with Konkan Railways, Jet Airways and Wave City.

IBM also unveiled a new social sentiment measurement capability (based on analytics technologies) to help cities gauge and understand public opinions on issues and services like public transportation.
Next Story
Share it