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If you live and drive in the city, you've probably suffered at least one of the many perils of parking. But the tech world is approaching the perennial parking problem full force. Molly Wood, executive editor at CNET, says there is plenty of innovation happening in that sphere - from doing away with parking meters that require change to apps that locate parking spots in real time. 

Wood says applying big data to parking can help cities become more efficient, and ultimately save more money. 

"A third of vehicles on the road at any given time are no longer in transit; they're looking for parking," she says. Wood notes one pilot program in Los Angeles resulted in a 2 percent savings in the city's overall budget.

Click the audio player above to hear more and click here to watch this week's episode of "Always On with Molly Wood" on CNET TV. 


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Follow Molly Wood at @mollywood