July 2024: 3 innovative ways to create smart cities

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As we collectively work towards net zero, smart city initiatives are growing increasingly important for sustainable development, enhanced urban living and an improved quality of life. By focusing on innovation that transforms cities into smart, efficient and liveable spaces, we can accelerate efforts towards living sustainably.

In this issue of KPMG Insights, unearth what’s shaping the next generation of smart cities: from decarbonising with smart grids, to city planning with a people-centric approach, to embedding resilience for future citizens.

The future of energy and decarbonisation

A forgotten key to decarbonisation, smart grids represent a pivotal shift in how the world manages and distributes electricity amid increasing energy needs for economic activities. In the transition to a low-carbon future, smart grids can integrate renewable energy sources, optimise energy distribution, bolstering grid stability and reliability, and enable demand-side management.

The third edition of Plugged In magazine delves into wider applications of the transformative potential of technology, including artificial intelligence (AI) and automation in the power and utilities industry. Read more.

The future of urban transformation

The constant hum of a city reflects its relentless breakneck pace of development – that could be exceeding the limits of its infrastructure and contrarily hindering advancement. Governments, policymakers and urban planning stakeholders can catalyse progress through a blend of policy, partnerships and programming.

Developing a more liveable, sustainable and equitable urban experience will require cities to reimagine the status quo. Consider a people-centric approach that brings the city closer to its residents, by transitioning from single urban cores to polycentric models. Next, invest in digitisation that can generate efficiency, connectivity and enhanced decision making. Finally, collaborate with regional parties as well as domestic stakeholders to learn from best practices. These three tips can help to transform the nature and capacity of city infrastructure.

How can Asia Pacific maintain its upward growth trajectory amid a global landscape characterised by economic and geopolitical turmoil? Read more.

The future of cities

Apart from physical infrastructure, the next generation of smart cities integrate technology and a sustainable approach to city planning, guided by a strong focus on the needs of citizens and effective collaboration across stakeholders. Today’s strategies, policies and decisions can potentially enrich the lives of current and future citizens.

Leaders can build lasting cities by considering three characteristics, that will enable them to nurture further value:

1. Citizen centricity: Understand and establish citizen needs as a central tenet of decision-making when developing policies, designing solutions and delivering services.
2. Collaboration and partnerships: Forge partnerships across stakeholders such as the government, private sector and community groups on programs, projects, services and solutions
3. Funding and financing: Access sustainable funding and financing solutions that enable exciting new?digital, physical and sustainable solutions.

Create a next-gen smart city by applying these three characteristics across three pillars of value. Get the full framework in our report.