Innovative Business Models for the Future Smart City

Cosimo Carpentiere (1), Ilaria Mancuso (2), Vito Albino (3), Antonio Messeni Petruzzelli (4), Umberto Panniello (5)
(1) Politechnic University of Bari, Department of Mechanics, Mathematics and Management, Italy, Italy,
(2) PhD Student, Department of Mechanics, Mathematics and Management, Polytechnic of Bari, Italy, Italy,
(3) Full Professor, Department of Mechanics, Mathematics and Management, Polytechnic of Bari, Italy, Italy,
(4) Full Professor, Department of Mechanics, Mathematics and Management, Polytechnic of Bari, Italy, Italy,
(5) Associate Professor, Department of Mechanics, Mathematics and Management, Polytechnic of Bari, Italy, Italy

Abstract

This paper examines how to outline and adopt innovative business models for the Smart Cities of the future. Smart Cities are intelligent and efficient communities and ecosystems employing digital technologies to respond a growing waste of resources, unsustainable environmental impact, and inefficiency in traditional processes. Considering the greatest benefits of Smart Cities on economies, societies, and environment, many countries have now introduced national Smart City projects in order to transform life, improve business operations and market competitiveness. However, despite growing interests towards Smart Cities, it remains still difficult to adopt this paradigm due to digital transformation, interaction strategies, social and cultural problems. Therefore, this paper aims to break down the barriers to these problems and support the literature and management to understand how to implement profitable business models for Smart Cities of the future. Specifically, we identify four main areas characterizing Smart Cities (i.e., Smart Mobility, Smart Living, Smart Energy, and Smart Public Ecosystems) where digital technologies have shown greater progress with large savings. For each area, multiple case studies have been discussed and Business Model Canvases have  been  developed  for  generalizing  effective  methodological  approaches toward  efficient implementation of Smart City paradigm. Results are threefold. As for digital transformation problems, we show how digital technologies (e.g., Cloud, IoT, Big Data and AI) are applied profitably through innovative business models; as for interaction strategies problems we indicate how to organize innovative ecosystems involving public and private actors to  promote  Smart  Cities;  as  for  social  and  cultural  problems  we  delineate  change  management  and communication practices useful to instill in all stakeholders a culture towards the Smart City. With these findings the paper aims at enriching scientific knowledge about the Smart City Paradigm by means of a business model perspective and to offer public administrations insightful guidelines for the transition toward Smart Cities.

Full text article

Generated from XML file

Authors

Cosimo Carpentiere
[email protected] (Primary Contact)
Ilaria Mancuso
Vito Albino
Antonio Messeni Petruzzelli
Umberto Panniello
Carpentiere, C., Mancuso, I., Albino, V., Petruzzelli, A., & Panniello, U. (2023). Innovative Business Models for the Future Smart City. Resourceedings, 3(1), 01‚Äď12. https://doi.org/10.21625/resourceedings.v3i1.950

Article Details

Received 2023-02-20
Accepted 2023-03-30
Published 2023-03-31