Artificial Intelligence is the latest mega trend which is dominating the global technology forum. Three young science enthusiast are using artificial intelligence to map the performance of our cities with their Startup called Smart Cities Wheel. The company is based in Indore, which is one of the 66 cities selected to be developed under the Smart Cities Mission.
The chief inventor of the technology Mohak Bhambry is a Hardware Engineer. Shashank Khurana is a Doctoral Research fellow in Space Sciences in the University of Tokyo and is currently an Assistant Professor in Mechanical Engineering at BITS , Pilani. He is managing the product and is helping in connecting them to Dubai Smart City business.
Siddharth Rajhans, with his rich experience in the silicon valley and with current work profile with Apple is the is business enabler for the company. With his rich experience in Silicon Valley and as a pioneer of Outernet technology, he is helping the company gain traction and prominence. All three of them were from diverse background however what was common in them was their joint passion for Artificial Intelligence and their interest in the city development. That is how the idea of Smart Cities Wheels came where they are using technology to making Indian cities being planned and perform in a better way. Currently 40 per cent of India’s population stay in cities which will cross 50 per cent by 2030, making it difficult for the urban local bodies to ensure better quality of life for the citizens.
“Imagine, if cities learn from themselves and then planned themselves accordingly” said Mohak adding this is what the Smart Cities Wheel trying to do.
How It WorksAccording to Mohak, Smart Cities Wheel is a patent-underway 12-Key Performance Indicator based data visualization platform, which helps urban planners, city stake-holders and Special Purpose Vehicles to build, design and plan smart cities using Artificial Intelligence.
The city is calibrated quarterly based on 12 key performance indicators and in case on any repercussions the tool will provide necessary “call for actions” in order to maintain the “smartness” of the cities.
The KPIs are – Economy, Mobility, Infrastructure, Awareness, Quality of Life(QoL), Technology, Smart City Agents(People), Smart Governance, Healthcare, Waste Management, Energy & Innovation.
All 12-KPIs are with quantitative and qualitative data parameters indexed to them that governs and runs the performance of the en-tire city. Now, every three months, the city will be analyzed and calibrated in order to give a future performance measure of cities using Artificial Intelligence.
Under their infrastructure KPI, they gave demo for an Augmented Reality app for urban planners, wherein they augmented –The Rajwada, proposed heritage site for Smart City Indore proposal.
The Market “The market size of the world for smart cities is US$ 480 Billion. By 2025 it will be around $780 Billion. If we talk about the Indian market, there is a huge budgetary allocation to support the government’s vision to create 100 Smart Cities in India by the central government. Also state government is funding lot of project So there is lot of opportunity,” added Mohak.
“Smart City market is huge and it is expected to have lot of competitors for the same. But, we dwell upon AI based performance driven Smart City planning and management tool, which is something currently not available in the market that is the dire need, giving an edge,” said Mohak.
Currently, the startup plans to pilot their model with immediate 4-Key Performance Indicator in 3 cities for the first operational year.
In the coming 5 years they want to develop 10 smart cities with their model. They even have a global cities market track around their roadmap that could give the business a much-required over-seas push right from the beginning.
Revenue Model The startup model monetizes using two streams. One is Yearly licensing fee for the performance driven data visualization plat-form, which will be based on the demographic of the cities and the performance indicator chosen by cities.
Secondly, Augmented Reality in-app purchases for premium city and urban planning features (like – encroachment notifications, dimension tracking, area planning, etc.) Smart Cities Wheel is currently, bootstrapped and they are looking forward for raising capital once they launch their first pilot project
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