The shift to the 'algorithm economy'

The concept of the smart city is to integrate information and technology developments to improve the quality of life of its citizens. Smart city initiatives have been around since the dawn of the digital revolution. While there are several smart city models implemented across the world, Singapore has been one of the most ambitious in adapting this program to push the city into the digital age. The country's "smart nation" program was launched in November 2014, turning the island into a "living laboratory" testing smart solutions to address urban issues involving entities in the private and public sectors in Singapore. Vast amount of data is generated and collected in a highly digitalised economy and over time, the term big data is becoming increasingly irrelevant, with all data now considered as big data.