Page 25 - A U4SSC deliverable - Accelerating city transformation using frontier technologies

electricity meters can also be installed in buildings to monitor their condition and energy usage, and to
optimise energy distribution. The European Commission expects that 77 per cent of consumers within
the European Union will have smart electricity meters by the year 2024. Additionally, it is estimated
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that utility companies will be able to save up to USD 157 billion by 2035 by using these smart meters. 61

“The global energy demand is expected increase by 37 per
cent by 2040. IoT can play a prominent role in improving
energy efficiency both at homes and in cities.”

IoT has also opened up a world of possibilities for the healthcare sector. In this context, IoT devices have
been delivering analytics that enable hospitals to improve the quality of care for patients. Touchscreen
monitors and tablets can enhance patent experience and enable doctors to monitor treatment progress
and check a patient’s medical records. Better tracking also enables hospitals to manage resources
efficiently, as well as address failing hardware and identify bottlenecks and services shutdowns. Smart
devices can also help in tracking biometric data, which can be leveraged to improve the quality of
patient care and accelerate lifesaving research. Remote patient monitoring will also reduce visits to
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the doctor and make healthcare services more accessible in remote regions. Studies indicated that
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the waiting time of in-patient care in Mt. Sinai Medical Center in New York was cut by 50 per cent with
the use of IoT software known as AutoBed. Estonia is among the first countries in the world to create
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a centralised medical data and electronic medical system, and all medical institutions in the country
are required to connect to this medical system.
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Accelerating city transformation using frontier technologies | A U4SSC deliverable 15