Software titan Microsoft has collaborated with German engineering firm ThyssenKrupp to develop a new elevator system which is expected to save tens of thousands of years in waiting time each year by availing itself of latest Internet of Things (IoT) technology.

The MAX elevator employs Microsoft’s Azure Internet of Things platform to provide data-driven real-time predictive maintenance services, thus dramatically reducing repair time and raising availability levels. The elevators dispatch data on their operating conditions in real time to Microsoft’s Azure cloud system, where sophisticated algorithms can then determine the remaining operating life of machine parts and components and predict…