In this paper we study the vulnerability management dimension in smart city initiatives. As many cities across the globe invest a considerable amount of effort, resources and budget to modernise their infrastructure by deploying a series of technologies such as 5G, Software Defined Networks and IoT, we conduct an empirical analysis of their current exposure to existing vulnerabilities. We use an updated vulnerability dataset which is further enriched by quantitative research data from independent studies evaluating the maturity and accomplishments of cities in their journey to become smart. We particularly focus on cities that aspire to implement a (data-driven) Circular Economy agenda which we consider to potentially yield the highest risk from a vulnerabilities exposure perspective. Findings show that although a smarter city is attributed with a higher vulnerability exposure, investments on technology and human capital moderate this exposure in a way that it can be reduced.
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