Editor's Note: The following is a guest post from Arnaud Legrand, head of public sector marketing at Nokia. A virtuous circle exists in hyperconnected cities where economic prosperity, business growth and social well-being combine to become increasingly efficient and effective. Many of the factors that feed into this iterative growth, such as social, health, environmental and business advantages, are difficult to calculate. However, the statistics that prove qualitative benefits – creating new business opportunities, filling talent gaps, improving public health, reducing crime, boosting productivity and addressing income inequality – are more measurable. The ability to establish a measurable framework through which to accelerate transformation is critical in order to justify the time and resources required to take a smart city to the next level.

Whatever happened to the "smart city?" It's alive and well but morphing into the "hyperconnected city," powered by data analytics, artificial intelligence, Internet of Things (IoT), and other advanced technologies. Among the goals: Create new business opportunities, increase the efficiency of government processes, and improve public safety and health, according to a new study by research firm ESI ThoughtLab and sponsored by Oracle. Those benefits will come with a discernible return on investment that increases as connectivity expands, the report maintains. One surprising finding is the extent to which hyperconnected cities--even some with huge technology investments--admit to being largely unprepared for cyberattacks.