3 Ways Your Company's Data Can Jump-Start Climate Action | Massimo Russo | TED | Summary and Q&A

TL;DR

In this content, the author explores the need for greater data sharing among companies, individuals, and cities to drive the development of sustainable solutions in the smart city of the future.

Key Insights

• 🏙️ The smart city of the future promises seamless transportation, with electric vehicles, shared autonomous taxis, and connected infrastructure, but data sharing is a key requirement for this vision to become a reality.
• 🌍 85% of sustainability solutions for cities require greater data sharing across companies, individuals, and cities. Overcoming the fear of data sharing is crucial for combating climate change and building smarter, more connected cities.
• 💻 Companies fear sharing data due to the fear of missing out on competitive advantage (FOMA). However, companies are more willing to share data if it serves a broader common purpose, such as fighting climate change.
• 🔄 Three actions are needed to jump-start data sharing and innovation for sustainability: finding new unexpected sources of data, developing new sustainability solutions quickly, and acting together for change.
• 🚜 In farming, the combination of data from satellites, drones, sensors, and connected farming equipment allows farmers to make better real-time decisions, improve crop yield, reduce resources, and even generate new income sources.
• ⚡ By sharing data across transportation, utilities, and buildings in smart cities, cities can make better decisions on renewable energy investment, reduce energy bills, accelerate electric vehicle adoption, and improve air quality.
• 📊 Individuals also have a critical role to play by being in control of their own data. Imagine having an app that allows you to set preferences and make climate-friendly decisions based on your data, such as purchasing an electric car or changing shopping patterns.
• 🌍 The future relies on companies and individuals moving away from the fear of missing out on competitive advantage and towards the fear of missing out on the potential of data sharing to combat climate change and build a brighter future.

Transcript

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Questions & Answers

Q: What are the main factors preventing the realization of a connected, clean and green smart city?

The main factor preventing the realization of a connected, clean, and green smart city is the lack of data sharing among companies, individuals, and cities. Many companies are working on products and solutions to create a smart city, but they often operate independently, and the sharing of data between them is minimal.

Q: Why do companies fear sharing data?

Companies fear sharing data because they see it as a source of competitive advantage. Data can provide valuable insights and help companies gain an edge over their competitors. Sharing data with other companies, even partners or competitors, is often seen as a risk that could lead to a loss of competitive advantage.

Q: How can companies be motivated to share more of their data?

Companies can be motivated to share more of their data if it serves a broader common purpose beyond their own commercial motivations. In particular, companies have shown a willingness to share data if it can contribute to the fight against climate change. By highlighting the benefits of data sharing in combating climate change, leaders can overcome their fear of missing out (FOMA) and be more inclined to share data.

Q: What are the three actions needed to jump-start a virtuous cycle of data sharing and innovation?

The three actions needed to jump-start a virtuous cycle of data sharing and innovation are:

1. Looking for new and unexpected sources of data beyond a company's own walls.

2. Developing new sustainability solutions quickly through data analysis and agile approaches.

3. Acting together as companies, individuals, and cities to drive change and share data for the greater purpose of combating climate change.

Q: How can individuals contribute to data sharing and combat climate change?

Individuals can contribute to data sharing and combat climate change by being in control of their own data. By using apps or platforms that allow them to set preferences and share data from their cars, utilities, and shopping patterns, individuals can make informed decisions about their carbon footprint. This would enable them to run "what if" scenarios and make climate-friendly choices, such as purchasing electric cars or changing shopping patterns.

Summary & Key Takeaways

• Many companies are working on products and solutions for the smart city of the future, including transportation, health, and shopping.

• The main barrier to creating smart cities is the need for greater sharing of data across companies, individuals, and cities.

• Companies are more willing to share data if it serves a broader common purpose, such as fighting climate change, but overcoming the fear of sharing data is crucial for progress.