Grid Modernization Is Paving the Way for Building Smarter Cities [Technology Leaders]

Urban environments are playing a major role in modern economies, with more people choosing to move to cities for a better quality of life. In fact, more than half of the human population currently live in cities, and the United Nations estimates the urban population will reach almost 70% of the world's population by 2050. This significant and continuous shift demands a more intelligent and planned use of available resources in urban environments, leading to the development of "smart cities." Smart cities are now receiving increased worldwide attention, and a growing number of initiatives are being launched worldwide to promote this concept (Figure 1).