In this edition:
Why is having an innovative culture important?
What is the future of mobility under digital transformation?
Does 5G improve road safety?
Byte Size Podcast: Stop trying to reinvent cities
💡Why is Having An Innovative Culture Important?
➡️ The TL;DR: Many may believe that innovation is a synonym for these big breakthrough inventions, therefore out of an average person’s reach. In reality, small changes can be just as important as larger ones.
“Innovation is a myth.” - Scott Berken
One of the most common misconceptions about innovation is it’s synonymous with a particular type of personality - like Elon Musk’s Tesla or Steve Jobs’ Apple. Our tendency to associate innovation with patentable innovations and game-changing breakthroughs is understandable given how the media often uses it in misleading ways.
In reality, innovation can be broken down into 4 different types:
Sustaining
Disruptive
Incremental
Radical
Innovation is necessary for businesses to adapt to changes and stay relevant to their customers’ needs. As the transportation sector is an industry that is under constant rapid changes in technology and customer expectations, we should always be aware of the newest trends in the industry.
🚙 What is the Future of Mobility Under Digital Transformation?
What’s going on?
Technology and automation are changing our behaviours and transforming mobility.
What does this mean?
The digital transformation of mobility presents exciting opportunities for cleaner, safer and more effective mobility systems. Artificial intelligence (AI), the Internet of Things (IoT), 5G networks, and cloud and edge computing play a significant role in leading the transformation of the mobility sector.
These digital advancements encourage a more sustainable and smart future for the transportation industry. For example, the emergence of EVs facilitates sustainable mobility while IoT in transportation enables the utilisation of real-time data to improve processes and customer service.
However, the demand for mobility could increase tremendously and worsens traffic congestion.
Other questions emerge: Does the digitalisation of mobility bring more harm than good? Where is the balance between striving for driving convenience and reducing traffic congestion?
Why should I care?
The next phase of advanced mobility is expected where there will be shared mobility, autonomy and electrification with integrated energy systems
By 2030, shared vehicles will account for almost half of passenger miles
Read the full article by McKinsey Sustainability.
🚦 5G = Safer Roads?
What’s going on?
While the arrival of 5G technology opens up possibilities for new intelligent transportation systems, questions have been raised regarding its effects on road safety.
What does this mean?
The arrival of 5G technology is expected to transform and enable the emergence of new internet devices, which brings new possibilities to the Internet of Things (IoT) and big data scenarios.
The World Bank report on 5G-enabled transport predicts the potential application of the new technology within the transport sector: (1) the rise of connected and autonomous vehicles, (2) smart and efficient logistics, and (3) improved urban transportation through the implementation of Mobility as a Service (Maas) platforms.
Despite the vast potential advancements that 5G technology brings, there are associated risks as well. For example, automated vehicles continue to present complex questions of liability and risk.
It is also important to note that if environmental regulations were not caught up to the digitalisation of public transport and the inclusion of private MaaS operators, autonomous vehicles could result in wasted energy and worsening traffic congestion.
Why should I care?
By the end of 2022, 5G technology is expected to reach 1 billion globally
Various countries such as the United States, China and South Korea are actively building and deploying 5G technology in their transports
Industry-wide collaboration with automotive operators and standardisation of 5G architecture is expected to occur by 2023.
Read the full article by The World Bank
🎙Stop trying to reinvent cities - Reimagine them instead.
Why is imagination the key to Smart Cities and Communities? We asked Morris Misel, Futurist and self-proclaimed hell-raiser, about why we need to stop trying to reinvent our cities, and the endless possibilities enabled by cool technology. Check out the show notes here on Substack.
What you’ll learn:
The future of the built environment and urban design
Opportunities for the digital transformation of shared spaces
How you can adopt a futurist mindset
Got feedback on how we can improve our emails? Chuck Janis an email at janis@compassiot.com.au on how we can do better
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Compass IoT Team