Smart City 4.0 from the perspective of open innovation

Abstract

The purpose of a Smart City is to solve its inherent problems while simultaneously reducing its expenditure and improving its quality of life. Through the 4th Industrial Revolution technology, the advantages of Smart City are estimated to overcome the city's expenses with city platformization. While a city traditionally is the subject of creation and not consumption, a Smart City currently is the key industry in generating more than 60% of its GDP in value creation from a production viewpoint. Moreover, with the expansion of online-offline convergence, cities can grow without limitation on its size, where connectivity and innovation determine the inclination of the city's benefit-cost curve. As a city platform is responsible for connectivity, its value drastically increases through the 4th Industrial Revolution's O2O (online to offline convergence) platform. When a city reflects on its own as a Digital Twin in the Cloud and when complete information becomes accessible through citizen's participation through smartphones (Edge), Self-organization takes place, an ideal linkage between the city and citizens. Cities go through the self-organizing process of complex adaptive systems like the human brain. This research proposes a future model of a "Self-organizing City," and suggests implementing the Smart City model based on the Smart City Tech-Socio Model in implementing strategies.