AITX Announces Updated Plans for Robotic Security and Inspection Dog

Rhea-AI Summary

Artificial Intelligence Technology Solutions (AITX) announced a strategic revision to roll out a new robotic dog named 'CASSIE', targeting security services, logistics, utilities, and property management industries. CEO Steve Reinharz emphasized the emergence of a cost-conscious market, prompting the development of this entry-level model. CASSIE will be manufactured in Detroit and is part of a growing sector projected to reach $14 billion by 2030. Additionally, AITX has filed for uplisting to the OTCQB, with future updates expected.

Positive

• Launch of 'CASSIE' targets emerging cost-conscious market needs.
• CASSIE expected to tap into a market projected to grow from $940 million in 2020 to $14 billion by 2030.
• Manufacturing in Detroit supports local economy and operational control.
• Filing for uplisting to OTCQB could enhance visibility and credibility.

Negative

• None.

Name of the Robotic Dog Also Revealed

Detroit, Michigan, July 27, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), along with its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) today announced revisions to its plans and positioning for a robotic dog for the security services, logistics, utilities, and property management industries.

“We’re seeing a larger and more cost-conscious market emerge for a RAD dog,” said Steve Reinharz, CEO of AITX and RAD. “These market conditions have prompted our team to revise plans and develop a new dog, one that we are naming ‘CASSIE’. We are now going to bring an entry-level priced ‘junkyard dog’ to market, loaded with all the AI power that RAD has developed over the years.”

CASSIE^™ (Crawling Autonomous Safety Security Inspection Equipment) is the latest officially announced addition to the RAD family of robotic security and safety solutions and marks the Company’s second mobile robot. CASSIE, being developed by AITX’s wholly owned subsidiary Robotic Assistance Devices, Mobile (RAD-M), will be produced in the US at the Company’s manufacturing facility in Detroit.

According to report by Allied Market Research, the global security and inspection robots market generated $940 million in 2020 and is expected to reach close to $14 billion by 2030. “The industries that we serve are now very hungry and enthusiastic for an affordable mobile RAD solution,” said Mark Folmer, President of RAD. “Just imagine a RAD ROSA being able to autonomously dispatch a quick-running, agile robot dog. Trespassers and intruders won’t stand a chance.”

Reinharz continued, “We are leveraging the substantial investments made in RAD’s proprietary autonomy technology developed over the course of the ROAMEO project and can now apply this to a much lower cost solution. CASSIE’s internal processing will be driven by RADPack Mini, just like what we’ve done with ROSA 3.0 and AVA 3.0.”

Further details, specifications, pricing, and availability for CASSIE will be announced over the coming months.

AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.

Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user’s experience of all security robots whether SCOT^™, ROSA^™, Wally^™, Wally HSO^™, AVA^™, ROAMEO^™, CASSIE^™, or RAD Light My Way^™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto, and request a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, stevereinharz.com, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

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Steve Reinharz
949-636-7060
@SteveReinharz

Attachment

• Artificial Intelligence Technology Solutions, Inc.

FAQ

What is the purpose of AITX's new robotic dog CASSIE?

CASSIE is aimed at enhancing security services, logistics, utilities, and property management by providing a cost-effective robotic solution.

When was CASSIE announced?

CASSIE was officially announced on July 27, 2022.

What market is CASSIE targeting?

CASSIE is targeting the global security and inspection robots market, which is projected to grow significantly in the coming years.

What are the future plans for AITX regarding CASSIE?

More details, including specifications, pricing, and availability, will be announced in the coming months.

What is AITX's recent financial move?

AITX has filed for uplisting to the OTCQB to improve its market presence.