Ohio Patent of the Month – August 2024
Lift AI, LLC, an elevator asset management startup, has introduced a cutting-edge system that revolutionizes elevator monitoring by providing real-time data on movement, sound, and performance. Designed with both efficiency and safety in mind, the system uses an array of sensors, cameras, and microphones installed inside the elevator. These devices capture video, audio, and operational data, such as speed, acceleration, and vibrations, to provide a comprehensive picture of how the elevator is functioning.
What sets this system apart is its ability to transmit all this information to a remote application in real-time. Whether you’re a building manager or maintenance personnel, you can watch a live video feed of the elevator’s journey, listen to its mechanical sounds, and even feel simulated vibrations—all from a smartphone or desktop. This level of insight ensures that any irregularities, such as abnormal noises or unexpected halts, are immediately detected and flagged for review.
The system includes an alert feature that notifies users of issues like malfunctions, shutdowns, or passenger entrapments. This helps reduce response times, ensuring swift maintenance and minimizing downtime. The system’s ability to detect even minor anomalies in ride quality, like misaligned door sounds or vibration inconsistencies, ensures that problems are addressed before they become critical.
Lift AI’s invention eliminates the need for complicated connections to elevator control systems, making it highly adaptable across various elevator models. By providing real-time, actionable insights, this innovation enhances the reliability, safety, and overall performance of elevators in high-traffic buildings.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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