General Electric Company GE's GE Digital and Schindler disclosed they reached a strategic alliance, which would use the full potential of the Industrial Internet for digital innovations in elevators, escalators and smart buildings.
GE said that Schindler would leverage its Predix platform, as well as GE's proven digital industrial expertise in advanced analytics to further its efforts in the Industrial Internet of Things, machine learning in providing smart digital solutions to its users and customers, predictive analytics.
The company added that with Predix, Schindler would improve its capacities to monitor, analyze and leverage data generated from its connected escalators, elevators and PORT Technology.
GE's Chairman and CEO, Jeffrey Immelt, said, "GE and Schindler can deliver premium digital solutions powering urban mobility. Leveraging the Predix industrial operating system, Schindler is positioned to be a digital industrial leader in the elevator and escalator business."
The company pointed out that over one billion people depend on Schindler's mobility solutions every day. It believes that efficient and timely management was critical for safety, as well as, customer satisfaction.
The stock traded 0.8 percent higher on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
