Dubai Smart City value to top $4.8bn by 2019
Cisco report findings discussed today at the Dubai Smart City Forum
By utilising smart city technologies, Dubai's public and private sectors could achieve a potential AED 17.9bn ($4.87bn) in value by 2019, according to a new study from Cisco Consulting Services.
The findings were unveiled and discussed today at the Dubai Smart City Forum, held by the Mohammed Bin Rashid School of Government. The crux of it outlines how the internet of things (IoT) presents opportunities for Dubai as the emirate moves to become a smart city.
Speaking at the event was HE Ahmad Bin Byat, Chairman of the Executive Committee of the Smart Dubai Initiative, and Howard Charney, senior vice president, office of the CEO at Cisco. Shukri Eid, director of Cisco Consulting Services, also discussed the report's findings.
The speakers outlined how new levels of automation and connectivity are fuelling the next IoT era, which Cisco calls the Internet of Everything. They said that the IoT will create value by lowering costs, improving employee productivity, generating new revenue and enabling citizen benefits.
"The Internet of Everything's impact on Dubai Smart City is not theoretical - it will deliver practical benefits to transform daily lives, the economy and tourism," said Charney.
"Global smart cities have reduced water consumption by 50%, enhanced energy savings by 30%, and reduced traffic by 30%, and this has the potential to create a safer, happier and more productive Dubai."
In the private sector, benefits include improvements in innovation, supply chain and asset utilisation, the speakers added. In the public sector, they said that the IoT is helping organisations to manage assets, optimise performance and create new business models, and is aligned with the Dubai Smart City pillars of life, economy, and tourism.
The report examined 17 public sector use cases for Dubai, with the top three - in terms of value - being mobile collaboration, public transport, and a smart transmission grid. These would be worth AED 950m, AED 575m, and AED 544m, respectively, the report said.
"Due to high household density, low crime and strong healthcare, Dubai is ideally placed to become the world's first fully realised smart city," said HE Bin Byat.
"To achieve this goal, we are already following the report's guidelines in re-designing city services and government processes with cross-agency collaboration and connectivity, delivering a new level of services across Dubai."