One of the defining points of the Zhonghong Huanyuan neighborhood in Shanghai's Hongkou district is its hi-tech features.

When Tong Huaming, the secretary of the neighborhood committee, approached a locked door, he did not have to pull out a key. Instead a camera captures his face and automatically unlocks the door before opening it.

This technology was installed at the five main entrances to the neighborhood after officials gained approval from residents to share their facial information. In addition, the community has introduced other hi-tech features to improve living conditions.

For example, there are now wireless smoke detectors, devices to monitor objects being thrown from above as well as smart systems for manhole covers, water quality, trash pickup and car park management. About 300 sensors have been installed across the neighborhood.

The Zhonghong Huanyuan neighborhood, which is home to 2,382 households, is one of the district's most upscale areas and has been a target for burglars since it was completed in 2005.

"There were between 25 and 30 burglaries annually before the Internet of Things facilities were installed in 2017. No break-ins have occurred since," Tong said.

The IoT systems are also being used to bolster safety for the elderly at the Liangcheng community. In total, there are more than 5,000 sensors used for 18 applications, according to Zhang Jianming, a clerk from the community's management team.

"In some neighborhoods where quite a large number of senior people live alone, the sensors located in the public areas can detect if someone has not gone about his or her daily activities. This allows us to take follow-up actions and render assistance if necessary," said Zhang.

Shanghai is aiming to become a smart city with a wide application of technologies such as big data, IoT and artificial intelligence by 2040. This goal has presented a host of business opportunities for companies across all industries.

"We are very excited about the smart city program and we think it is a very bold undertaking," said Colin Angle, co-founder, chairman and CEO of iRobot. "There are opportunities everywhere, from transportation to how new homes are built to how older homes and apartments can be improved using technology."

"iRobot would like to help residents maintain their homes. We are also very interested in using our technology to help the elderly live independently," said Angle.

The ideal smart home should be one that configures itself, maintains itself and provide occupants with a high quality of life by seamlessly responding to the needs of daily living, from comfort and convenience to security, added Angle.

According to research firm Gartner, a typical family home will contain more than 500 smart devices by 2022.