Yes, privatization of infrastructure and data is a risk and a threat to conventional assumptions about public planning, public data, public interest.  And the current government is not up to the task of resisting this -- they more likely will accelerate this process.

The "smart city" is also a highly problematic concept, often driven by a naive or cynical view of the city as a place for efficiency in transactions -- and that our main problem is a lack of data (when more likely it is a lack of social institutions and political commitment to urban communities that worsens urban problems). And the smart city is also the surveillance city: the loss of privacy and freedoms is a planning and design issue, and we have been slow to figure this out.
The smart city may well exacerbate inequality as well.

This question has multiple components: 

(a) aging populations.  We don't do a good job planning throughout the lifecycle, for kids, for the elderly.   (We have no planning courses on these topics, but often assume that our unitary solutions work for all age groups, or to be precise, we often plan for the age 16-64 cohort.  
(b) reactionary politics:  we may no longer take democracy and a progressive social welfare state for granted -- the foundation of much of traditional planning.  Planning may require new forms of politics, funding, legitimacy.
(c) yes, regardless of (a) and (b), most urban growth will happen elsewhere in the world.  This already triggers a mismatch between the life experiences of our itnernational students (who often come from megacities) and their immediate geographic context of studying at UM (modest-sized Ann Arbor, shrinking Detroit).  Yes, more sustained partnerships with programs in other countries might be one step.

We have a head start here with our dual degrees and other cross campus collaborations, though these are not enough.  We need to diversify the possible connections between architecture, planning and design (urban design is one bridge, but there are others we need to find, such as planners learning more visualization -- the visualization not just of space and design, but also of social science and policy).  More collaboration with the big growing programs on campus:  engineering has 10k+ students (and huge research budgets) and we barely influence or collaborate with them.  Public Health and the School of Information as well.
Increase our participation in multidisciplinary competitions (such as the Hines Competition).