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Artificial Intelligence Technology Solutions Inc. (AITX) is a pioneer in delivering cutting-edge artificial intelligence and robotic solutions aimed at enhancing operational efficiency, security, and monitoring capabilities across various industries. Founded in 2016 and headquartered in Reno, Nevada, AITX was formerly known as On The Move Systems Corp before rebranding in August 2018 to better reflect its mission and expertise.
AITX, through its wholly-owned subsidiary Robotic Assistance Devices Inc. (RAD), offers a suite of AI-driven security and productivity solutions. These innovative solutions include both stationary and mobile robotic devices that reduce dependence on human personnel while improving operational efficiency, providing significant cost savings of 35%-80% compared to traditional security measures. RAD's product lineup features the ROSA, RIO, AVA, and RADDOG units, which incorporate advanced AI analytics for tasks such as firearm detection, human and vehicle detection, and license plate recognition, all integrated into a comprehensive security and communication platform.
FY2024 marked a year of substantial growth for AITX, highlighted by a remarkable 505% increase in recurring monthly revenue (RMR), rising from $56,802 to $283,624. This growth is driven by the deployment of 104 units in Q4 FY2024, the largest quarterly deployment to date. The company's gross profit also surged by 68% to $1,096,457, bolstered by enhanced operational efficiencies and robust demand for its innovative solutions.
A significant milestone includes the introduction of RIO in FY2024, which contributed $143,686 in RMR in its final operational month. The company's R&D expenses were reduced from $3.6 million in FY2023 to $2.8 million in FY2024, even as it launched new generations of its flagship products, resulting in increased production and supply line efficiencies.
AITX's strategic initiatives include a partnership with Nightingale Security, integrating RAD's ground-based robots with Nightingale's drones to form a robust, comprehensive security ecosystem. This collaboration underscores AITX's commitment to leveraging emerging technologies for superior security solutions.
Looking ahead, AITX is positioned for continued success with plans to achieve cash flow positivity in FY2025. The company's focus on developing AI-driven solutions and forming strategic alliances ensures its leadership in the rapidly evolving security technology market.
For more information, visit www.aitx.ai, www.radsecurity.com, or follow CEO Steve Reinharz on Twitter at @SteveReinharz.
AITX has announced an upcoming Investor Presentation and RAD Technology Review scheduled for January 15, 2025, at 4:00 pm ET. The event will be streamed live on YouTube and social media platforms, featuring CEO/CTO Steve Reinharz and key executives who will present company progress, FY 2026 projections, and the complete RAD product roadmap.
The company, through its subsidiary RAD-I, operates in the $50 billion security and guarding services industry, offering AI-driven Solutions-as-a-Service that provide 35%-80% cost savings compared to traditional security models. RAD-I has a sales pipeline including over 35 Fortune 500 companies and develops all technologies in-house.
RAD-I, a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has secured additional orders from a top 25 nationwide healthcare provider, expanding their initial deployment of RIO™ 360 solar-powered security towers. The client is expected to order over 40 RIO 360 units across multiple locations by the fiscal year end (February 28, 2025). Operating in over 300 North American locations, the healthcare provider has shown interest in deploying standalone ROSA™ devices and potentially SARA™ systems.
The RIO 360 configuration features dual ROSA units with AI-driven security analytics, including human, firearm, and vehicle detection, license plate recognition, and responsive digital signage. RAD-I's solutions aim to provide business cost savings of 35%-80% compared to traditional security services.
Artificial Intelligence Technology Solutions (OTCPK:AITX) has announced major product launches for Q4 FY 2025 through its subsidiaries RAD-I and RAD-R. Key launches include: RADCam, an AI-powered security camera starting production in December 2024; SARA (Speaking Autonomous Response Agent) platform deployments in January 2025; AVA Generation 4 with Homeowners Association Portal launching January 2025; ROAMEO Generation 4 demonstrations in February 2025; and RADDOG LE2 preview in March 2025.
The company will host its Annual Investor Presentation on January 15, 2025, reviewing FY 2025 performance and previewing FY 2026 plans. AITX aims to redefine the $50 billion security and guarding services industry with AI-driven solutions offering 35%-80% cost savings compared to traditional security models.
Artificial Intelligence Technology Solutions (AITX) is progressing toward achieving a $10 million annual recurring revenue (ARR) run rate by the end of fiscal year 2025 (February 28, 2025), which would represent a 3x growth from FY 2024's $3.4 million ARR. During Q3 FY 2025, RAD added $105,000 in recurring monthly revenue (RMR). The company's sales funnel expanded significantly, with potential RMR opportunities reaching $1.8 million.
The growth is driven by successful products including RIO (ROSA Independent Observatory), SARA (Speaking Autonomous Responsive Agent), and RADCam. The company aims to disrupt the $50 billion security and guarding services industry, offering cost savings of 35-80% compared to traditional security models through AI-driven Solutions-as-a-Service.
AITX's subsidiary RAD-R has launched a new 'Package Theft Prevention' feature for RADCam, making it the first residential security camera with proactive theft prevention capabilities. The system uses AI technology to monitor package deliveries, notify homeowners, and activate deterrence measures including verbal warnings and sirens when unauthorized removal is detected. The feature responds to a significant market need, as package theft affected approximately 119 million packages in 2023, causing $6 billion in losses. The system includes real-time warnings, instant audible alarms, owner authorization via voice passphrase or app, and AI-powered event capture for law enforcement support.
AITX and its subsidiary RAD-R have launched RADCam, an AI-powered talking residential security camera. Unlike traditional cameras, RADCam uses advanced AI for contextual interaction and can make S.O.S. service calls. The device is priced at $99 with a $10 monthly subscription, featuring a promotional launch price of $69 from November 22 to December 6, 2024. A three-camera bundle is available for $199.
RADCam offers proactive visitor engagement, intelligent event summaries, and AI-driven escalation capabilities. The system includes a 1080p HDR imager, IR illuminators, and mobile app integration for iOS and Android devices.
AITX and its subsidiary RAD have launched SARA™ (Speaking Autonomous Responsive Agent), an AI-driven software solution for security monitoring. SARA automates traditional Global Security Operations Center (GSOC) tasks using AIR™ (Autonomous Intelligent Response) technology, promising over 90% cost reduction compared to human-operated centers. Set for release in January 2025, SARA will be available as an upgrade for all RAD devices, offering automated assessment, engagement, and action execution traditionally performed by human operators. The solution provides instant scalability, precise incident escalation, and comprehensive reporting capabilities while integrating with existing infrastructure through RAD's Operations System Software (ROSS).
Artificial Intelligence Technology Solutions (AITX) and its subsidiary Robotic Assistance Devices (RAD) announced they will unveil a new AI-based security innovation called SARA on November 20, 2024. The technology promises to transform cost-efficiency and quality in security operations, targeting a significant market segment. The announcement will include video demonstrations and pricing details. RAD's CEO Steve Reinharz describes it as a pivotal moment that introduces a cost vs quality paradigm shift. The company aims to reduce security costs by 35%-80% compared to traditional manned guarding services, with a prospective sales pipeline including over 35 Fortune 500 companies.
Artificial Intelligence Technology Solutions (OTCPK:AITX) and its subsidiary Robotic Assistance Devices (RAD) announced the deployment of two ROSA™ security solutions in downtown St. Louis, featured by NBC affiliate KSDK. The AI-driven ROSAs are designed to address urban safety challenges, providing autonomous responses to city ordinance violations including loitering, narcotics trafficking, solicitation, and aggressive panhandling.
ROSA is a portable security solution featuring AI-driven analytics including human, firearm, and vehicle detection, license plate recognition, digital signage, and two-way communication. The system can be installed in 15 minutes and has proven successful in eliminating theft, trespassing, and loitering across various locations nationwide.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has been featured in the November issue of CAM Magazine, published by the Construction Association of Michigan. The article highlights RAD's AI-powered security solutions for construction sites, including the RIO™ portable security tower, addressing challenges like theft, trespassing, and liability risks. With over 1,700 member companies, CAM's coverage emphasizes RAD's role in transforming construction site security through autonomous technologies. The feature follows RAD's hosting of CAM's 'Business After Hours' event in July, where industry professionals discussed security innovations.
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