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The large deployment of Internet of Things (IoT) is actually enabling Smart City projects and initiatives all over the world. Objects used in daily life are being equipped with electronic devices and protocol suites in order to make them interconnected and connected to the Internet. According to a recent Gartner study, 50 billion connected objects have been deployed in smart cities by 2020. These connected objects will make our cities smart. However, they will also open up risks and privacy issues. As various smart city initiatives and projects have been launched in recent years, we have witnessed not only the expected benefits but the risks introduced. The current and future trends of smart city with respect to IoT have been described. It also discussed the interaction between smart cities and IoT. The drivers behind the evolution & development of IoT and smart cities have been explained. Finally, the IoT weaknesses and how they can be addressed when used for smart cities has been discussed