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Economic Benefits of Smart City Technologies for Energy Management

In: Proceedings of the 2024 3rd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2024)

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  • Junyue Li

    (Chinese International School)

Abstract

The increasing urbanization and demand for sustainable development have positioned smart cities at the forefront of modern urban planning. This essay explores the transformative impact of smart city technologies, specifically the Internet of Things (IoT), Artificial Intelligence (AI), machine learning, and data analytics, on energy efficiency and economic development. Smart city technologies enable real-time monitoring, predictive maintenance, and data-driven decision-making, which could lead to significant improvements in energy management. By examining the integration of these technologies in smart cities, this paper highlights the resulting economic benefits, including cost savings, job creation, and increased investment attractiveness. Case studies and world examples provide practical insights into the successful implementation and outcomes of smart energy initiatives. Ultimately, this essay underscores the pivotal role of smart city technologies in fostering sustainable urban development and calls for continued innovation and investment to realize their full potential.

Suggested Citation

  • Junyue Li, 2024. "Economic Benefits of Smart City Technologies for Energy Management," Advances in Economics, Business and Management Research, in: Kun Zhang & Hang Luo & Hongbo Li & Azlina Binti Md Yassin (ed.), Proceedings of the 2024 3rd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2024), pages 107-114, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-548-5_14
    DOI: 10.2991/978-94-6463-548-5_14
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