Name: Otis Elevator CEO Leads the Company to Independence and Listing on the NYSE
Uploaded: 2019-12-04
Duration: 4 min 48 s
Description: The 166-year-old company will soon spin out of United Technologies where it has been a subsidiary for the past four decades.

As the future the future of urban mobility, the future of basically moving people safely. people haven't trusted us since we invented this industry. And where the future goes is going to be digital. Combined with, again, urban growth, and that's where we're gonna be placed a digital industrial. It's kinda like you're running a 160 year old startup, except that you're starting off with $ 12 billion in revenue. Yeah, it's even more important because a lot of people revenue we have profit and cash. [ LAUGH ] And our vision is we give people, The freedom to connect and thrive in a taller, faster, smarter world. And there's no doubt in my mind that the world will continue to grow taller as more people move to cities and GDP grows. It's certainly faster. All of our lives are. And it's certainly smarter in terms of data. happened and we've been getting ready. It's interesting that Otis has just completed a renovation of the elevators in the Empire State Building. And interestingly that Otis installed and engineered those elevators back in 1931 tell us about how the new technology is changing the elevator business 1931 we installed the original elevators And the Empire State Building has gone through a lot of change. But it is the iconic building in New York City. It's the iconic observatory. It goes up 102 floors and you get a view unmatched anywhere in this world. So we have, over this time, replaced 58 of the elevators. And most importantly, what we've just shown is an all glass cabin and an all glass hoist way. To take people up to have this incredible view of the city on the 102nd floor. But tell us about the technology that now goes into elevators. A lot of people are not aware of how dramatically it has changed. Today's elevators are far more connected. They are far more intelligent, they use artificial intelligence for dispatching algorithms. So we have our campus destination dispatch product. And for anyone who's been in a high rise building and you push a button and it says go to H or go to go to D, it's really given us the ability to increase traffic flow in the same number of voice ways. By 50 %. You mentioned a moment ago about using artificial intelligence AI, but there's also Sensors and biometrics and the internet of things and data analytics. Most people don't think that elevators today are using this kind of technology. What's really important is understanding the data, how many rides are there, how many times does the door open because what that lets us do is have the ability to do preventive maintenance. And when we can do that shutdowns will be avoided will have the ability to send. We have 33, 000 service mechanics around the globe doing over 200, 000 service calls a day. But if we can predict when a parts going to fail, we can go out and fix it in advance. And that way no one gets stuck. No elevators or escalators are down, and that's just better service better uptime and that's what our customers expect. So I understand you're gonna be meeting in February here in New York with Wall Street analysts and investors. What's the message you're going to give them about the new ODIs? Yeah, the message is gonna be pretty simple. It's an incredible, iconic brand. A company that invented this entire industry. And we are back as an independent company with the focus on the investment to become a digital industry. As population grows and cities grow, we grow and so we have a great market thesis and then we are the leader With our scale, with our density, we have the ability to provide services far more productive and show some really great returns for our investors. And so you're gonna be a public company or you're gonna trade on the New York Stock Exchange or the NASDAQ? Yeah, worth going back to the New York Stock Exchange. We started there in 1920, was the first time we're listed Sot and really looking forward in 2020 to becoming a public independent company again. So what's gonna be the tick resemble in 2020? I'm gonna ask you to wait til the investor conference in February and we'll unveil it then. [ BLANK_AUDIO ]

Otis Elevator CEO Leads the Company to Independence and Listing on the NYSE

Finance

The 166-year-old company will soon spin out of United Technologies where it has been a subsidiary for the past four decades. 