Indian IT giant Tech Mahindra announced that it has partnered with The Open University and Milton Keynes Council in a bid to help turn the urban area into a smart city.
The new partnership between the three organisations will focus on developing smart city technologies across energy, transport, electric vehicles, connected ecosystems and the internet of things.
The Memoranda of Understanding (MoU) is designed to pool the talents and experience of the three organisations, who will submit joint bids for private and government sector opportunities in these areas over the next five years, with the sector estimated to be worth £400 billion globally by 2020.
In Milton Keynes alone, it is thought that the smart cities revolution could increase employment at a rate of 2,600 jobs per year.
Smart cities harness the power of big data to improve the running of key services such as energy and transport, making them more reliable and efficient.
TS Narayanan, senior VP at Tech Mahindra, told Techworld: "Our contribution to the consortium is to bring in expertise and solutions in a number of domains."
Vice-chancellor for Research at The Open University, Professor Tim Blackman said: "The whole area of Smart Cities is incredibly exciting, so joining forces with an organisation with the capability of Tech Mahindra is a great boost in terms of developing innovative solutions. This will make a real difference to the way people interact with their surroundings - from how we consume energy to the way we get about."
Other UK cities leading the charge on the smart cities front include Glasgow and London.
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