With the use of technology and real-time data, smart cities can improve quality of life, reduce waste, increase efficiency, and lower costs for local governments, businesses, and residents.

But unlocking the potential of smart cities will require a joint commitment from both the public and private sectors to invent, finance, and implement new infrastructure.

Mark Dowd, Deputy Assistant Secretary for Research and Technology at the U.S. Department of Transportation, discusses the federal government’s efforts to spur smart city development through public-private partnerships, specifically those involving small and medium-sized businesses.