 Great. Hi, I'm here with Jeff Bloom, who's SVP from Kone. Kone are a people movement company, $10 billion worth themselves, but Jeff, tell me a bit more about what your company does. Yeah, so we're based in Helsinki, Finland. We're a global organization. We operate in all the continents and basically we're in the business of improving the flow of urban life. So the movement of people and delivering the best people flow experience in any and all environments, particularly in urban settings, but in other settings, that's what we do. So access into and out of buildings, obviously elevators and escalators movement into and through buildings safely, reliably, comfortably is really what we're in business to do. And so when did you start looking at IoT incentives as a way to do things better? I think this first started emerging certainly in our industry, maybe three years ago, four years ago, where obviously we have always invested globally with the right partners around new technology. So if you go back to when we went to enterprise systems, we went with SAP early and we went global, same thing with Salesforce.com on our customer relationship management. And so we started looking at this and we saw true value that could be derived, right? We maintain over 1 million elevators and escalators globally. And there's a tremendous amount of data. And if we could utilize that data to better serve and better deliver value to our clients, we were very interested in exploring that further. So we did, we partnered with IBM and their Watson platform. And we're in the process of connecting over 1 million elevators and escalators that move about a billion people a day. So there's a tremendous amount of people movement, but also data created by moving all those people that we're capturing and applying to serve our customers better. And so what sort of hardware are you adding to your elevators and how they connected to the internet as well? Yeah, so I mean, most of it on the equipment that we install, we have embedded controllers and it's got our software so we can read a lot of the faults. But even on those units, we're applying sensors within the hoistway. So not only electrical, but mechanical, environmental information, humidity, heat, temperature, all of these things are measured vibration. So these things can all be indicative of a unit that's running, right? Or if there's an anomaly in any of those sensors and any of those inputs, then our own algorithms combined with Watson and the learning that's occurred now over all the terabits of data that are coming in, we're beginning to not only, we're moving from reactive to proactive to predictive services to be able to identify problems before they occur, which is a very exciting development in our industry. Right, and so what have been the benefits of implementing these IoT systems? Yeah, I would say first and foremost is our clients getting what I call real-time insights into the performance of their assets. Our clients are real estate owners, right? They own buildings, their property management companies, and they cannot possibly be the expert in every single one of the building systems, the buildings that they own deploy. But of course, what keeps them up at night is are my assets in good operating condition? Are they being maintained properly? Could I deliver more value to their customers? Better operating, better uptime, maximizing that. So what this system does is the R247 connected services, it provides those real-time insights, complete transparency as to how their assets are performing, any anomalies that have been found, any failures that had been averted, quite frankly, due to our predictive services. They get those real-time assets, they know another big question for our customers is where do we invest from a capital expenditure standpoint? Where do we want to invest? There's aging infrastructure, there's old buildings, there's old cities that are being used in ways that they were not originally intended to be used. Some of the largest landlords now in major metropolitan areas are WeWork and they are now the landlord of space and they're using that space in a denser way and cutting up that space in different ways than what was originally intended and that's putting a lot of tension on that existing infrastructure and so new solutions are needed to make that flow of people more efficient, more comfortable, and safer. So they need to know where to make those investments and with a data-driven approach, a big data-driven approach, they can get more for their capital expenditure dollars by making sure that they're investing in the upgrade of their assets the right way. Right. And presumably there's extra cost in adding the sensors to your products. So what is the business model of the payback for your customers? They pay more for this but they see a very clear ROI and how is that coming forward? So that's a, you know, there's no one answer to that question, right? Because we're all different and each type of building actually is different. So the value for this is different for a customer that is in a retail building versus an office building versus a residential building. An office building wants, especially if it's a class A office building, they're there to maintain the highest class tenants that they possibly can and these could be law firms and professional services firms and great companies that want to office in those spaces. So they value that one way. A retail client may value it very differently. If that equipment doesn't work, it's literally costing them sales every minute that that equipment is down. So they have a different sense of what that value is. So there's no one right answer but clearly the value is there because customers are signing up. They are paying for this service and they're doing it in a way that makes sense for them. And they've got what we've seen is like 25% reduction in terms of call outs. Wow, okay. And the most telling thing is the voice of the customer on units where these are installed on average 60% less customer complaints, less customer calls, which like most customers, they're not bashful to let us know if we're not doing what they need us to do. And so we've seen a great reduction there as well. That's been the most challenging thing about rolling the system out. Yeah, I would say change leadership because you're in an industry and it's not just the elevator or escalator or the people flow industry, but the building industry in general. How do you continue delivering the phenomenal service? We have technicians that are incredibly bright, electrically, mechanically, software, hardware, really brilliant technicians that are out there and their time is incredibly valuable because there's thousands of makes and models and different types of equipment and that's an aging population. So how do we best support them to do the best possible job that they can? But it's a change. It's a very big change. I would say internally, internal education around what these solutions mean, but also customer education I think has been a challenge that now we're seeing a bit of a tipping point and that's starting to move along much faster. And how would a company engage with you if they have an enabling technology? How can they approach you? What's the best way? Well, could they just approach you directly or do you have a way that you should do? Yeah, absolutely. So Kone is a very strong track record of innovation. We've been in business for over 100 years and we've revolutionized our industry multiple times. So when you get into the construction business and some really old technology, we've introduced technology that has been adopted now by the vast majority of elevators that go into new buildings, our machine roomless technology. So we invest heavily in R&D. We're always looking at new technologies and how they can apply to our industry, either in terms of a product solution, a service solution, or to make our employees more engaged and more effective and more productive. So I would say if there's any new technologies out there, if somebody's interested, Kone would be more than willing to ask. Now, depending on the solution, we would find the right person in the company for them to talk to. Great, great. And what are the next steps for Kone? What are you looking at next? Oh, this is quite the journey. This show has been, I mean, incredibly eye-opening. You may be a better judge of that than I may be as to what's next, what's happening with IoT and sensors and printed electronics. And I mean, you start, it really gets your imagination going as to what the next steps could be, the flexible and the wearable sensors and technology. So I know for us, we're focused on the movement of people and any of these new technologies that we can understand and find ways that deliver greater value to the clients that we do business with and our partners, that's what's next. And we're constantly looking for that. Jeff, thank you very much. Thank you, Greg. Thanks. Appreciate it. Cheers. That's perfect. Thank you very much. Okay.