Next Investors logo grey

ACT Chief says Smart Cities the next big thing

Published 12-MAY-2016 10:08 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

The ACT Government’s Chief Minister Andrew Barr tells The Capital Network’s Lelde Smits about the Smart City revolution and how the public will be impacted by technological changes.

Watch the video here or read the interview below.

The Capital Network: Hello I’m Lelde Smits for The Capital Network and joining me in the nation’s capital, Canberra, is the ACT Government’s Chief Minister Andrew Barr. Mr Barr welcome and thank you for your time.

Andrew Barr: Thank you, great to be here.

The Capital Network: Now we’re hearing so much about ‘Smart Cities’. Can you explain what they are and also what does a city do to become smart?

Andrew Barr: Well I think Smart Cities are ones that are adapting to new technology, wanting to look at new and innovative solutions to municipal service delivery challenges. So, it generally involves utilisation of new technology, but working closely with local communities in order to see deep engagement with those new technologies.

The Capital Network: Could you explain some of the things that Canberra is doing to really become a Smart City?

Andrew Barr: We’re starting with a premise of 100 per cent renewable energy to power our city, and then looking to have Australia’s largest free public Wi-Fi network as a backbone really for the delivery of a range of services.

So Smart Parking Limited (ASX:SPZ) is one example where utilising that Wi-Fi network we can have a project like we’ve got here in Manuka, a busy business precinct, we can provide real time information to drivers to allow them to get to a car park. It removes that big hassle of driving around seemingly endlessly.

But, there are so many applications off a Wi-Fi network such as we have. But it’s important to be able to find practical, tangible outcomes that are easily delivered in order to demonstrate the benefits of this sort of technology.

The Capital Network: Absolutely well that’s certainly a lot of initiatives there. Are there any challenges in becoming a Smart City and what are you doing to tackle that?

Andrew Barr: One of the big challenges is to ensure that you bring the community with you. There’s no point rolling out technology to people who aren’t ready for it or who aren’t educated in its use. We’re lucky here in Canberra to be early adapters to new technology, to have a city that has a real appetite for it, but that wouldn’t be the case necessarily everywhere. So, I think an important lesson is to engage the community early about the possibilities but also be prepared to take a risk or two in rolling out new technology and a bit of trial and error to see what works and what doesn’t, and I’m sure we’ll find that in this trial over the next 12 months.

The Capital Network: Well you’ve certainly made some good process, thank you for the update on Smart Cities, Mr Barr.

Andrew Barr:
My pleasure, thank you.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.