From our 2022 Americas Summit that took place in Chicago in September comes another BuiltWorlds Session interview. We had the pleasure of sitting down and having a discussion with Rick Khan of STO Building Group to chat about some of the exciting stuff STO Building Group is involved in as well as what Khan is most excited about in the industry moving forward.
STO Building Group is a family-owned organization with almost 4,000 team members that generates nearly $10 billion in revenue per year. Although STO has grown into a considerable player within the contech industry, Khan is still focused and excited about the future growth of their organization via M&A activities. Khan believes that a large part of the growth in the sector can be attributed to an increased demand in ESG. Through various forms of tech, companies are more easily satisfying their goals in relation to ESG.
Another area Khan says his focus has remained on is technology in the real of IoT and smart tools and equipment. By implementing sensors for the tool and capturing more real-time data about tool usage in real time, it would allow companies to more accurately measure their safety risk on projects. A specific example of this kind of technology that Khan speaks about is smart ladders. STO Building Group is currently working with another company that leverages sensor technology to give real-time data in regards to ladders and registering whether or not they are set up properly and also sending alerts if the ladder were to fail.