AITX’s RAD Receives Multiple RIO Contract Renewal from Large Client
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has announced the renewal of a contract for two RIO™ units from one of its largest clients. This marks the first of many expected renewals, highlighting RAD's strong customer retention. The company reports a year-to-date attrition rate of less than 3% for deployed and revenue-producing units, outperforming their target of less than 5% per quarter.
RAD's RIO units feature dual ROSA™ (Responsive Observation Security Agent) systems, which offer AI-driven security analytics including human, firearm, and vehicle detection. The company plans to provide a year-to-date sales summary and full-year SaaS and revenue guidance on August 1, 2024. RAD's innovative AI-driven Solutions-as-a-Service model aims to reduce security costs for businesses by 35%-80% compared to traditional manned security services.
I Dispositivi di Assistenza Robotica (RAD), una sussidiaria di Artificial Intelligence Technology Solutions (OTCPK:AITX), hanno annunciato il rinnovo di un contratto per due unità RIO™ da uno dei loro maggiori clienti. Questo segna il primo di molti rinnovi attesi, evidenziando la forte fidelizzazione dei clienti di RAD. L'azienda riporta un tasso di abbandono annuo inferiore al 3% per le unità distribuite e produttive di reddito, superando il loro obiettivo di meno del 5% per trimestre.
Le unità RIO di RAD sono dotate di due sistemi ROSA™ (Responsive Observation Security Agent), che offrono analisi di sicurezza guidate dall'IA, inclusa la rilevazione di persone, armi da fuoco e veicoli. L'azienda prevede di fornire un riepilogo delle vendite da inizio anno e una guida completa per il SaaS e il reddito il 1° agosto 2024. Il modello innovativo di Soluzioni-as-a-Service guidato dall'IA di RAD mira a ridurre i costi di sicurezza per le imprese dal 35% all'80% rispetto ai tradizionali servizi di sicurezza con personale.
Los Dispositivos de Asistencia Robótica (RAD), una subsidiaria de Artificial Intelligence Technology Solutions (OTCPK:AITX), han anunciado la renovación de un contrato para dos unidades RIO™ de uno de sus mayores clientes. Este es el primero de muchos renovaciones esperadas, destacando la sólida retención de clientes de RAD. La compañía reporta una tasa de deserción acumulada del año inferior al 3% para las unidades desplegadas y productivas de ingresos, superando su objetivo de menos del 5% por trimestre.
Las unidades RIO de RAD cuentan con sistemas duales ROSA™ (Responsive Observation Security Agent), que ofrecen análisis de seguridad impulsados por IA, incluyendo la detección de humanos, armas de fuego y vehículos. La compañía planea proporcionar un resumen de ventas hasta la fecha y una guía completa de SaaS e ingresos el 1 de agosto de 2024. El modelo innovador de Soluciones como Servicio impulsado por IA de RAD tiene como objetivo reducir los costos de seguridad para las empresas entre un 35% y un 80% en comparación con los servicios de seguridad tradicionales con personal.
로봇 지원 장치(RAD)의 자회사가 인공지능 기술 솔루션(OTCPK:AITX)이며, 그들은 가장 큰 고객 중 한 곳에서 두 개의 RIO™ 유닛에 대한 계약 갱신을 발표했습니다. 이는 예상되는 많은 갱신의 첫 번째 사례로, RAD의 강력한 고객 유지 능력을 강조하고 있습니다. 이 회사는 배포된 수익 생성 유닛에 대한 연간 이탈률이 3% 미만이라고 보고하며, 분기당 목표 5% 미만을 초과했습니다.
RAD의 RIO 유닛은 인간, 총기 및 차량 감지를 포함한 AI 기반 보안 분석을 제공하는 이중 ROSA™(반응형 관찰 보안 에이전트) 시스템을 갖추고 있습니다. 이 회사는 2024년 8월 1일에 연초 판매 요약 및 연간 SaaS 및 수익 가이드를 제공할 계획입니다. RAD의 혁신적인 AI 기반 서비스로서의 솔루션 모델은 전통적인 유인 보안 서비스에 비해 보안 비용을 35%에서 80%까지 줄이는 것을 목표로 하고 있습니다.
Les Dispositifs d'Assistance Robotique (RAD), une filiale de Artificial Intelligence Technology Solutions (OTCPK:AITX), ont annoncé le renouvellement d'un contrat pour deux unités RIO™ de l'un de leurs plus grands clients. Cela marque le premier de nombreux renouvellements attendus, soulignant la forte fidélisation des clients de RAD. L'entreprise rapporte un taux d'attrition cumulé de moins de 3% pour les unités déployées et génératrices de revenus, dépassant son objectif de moins de 5% par trimestre.
Les unités RIO de RAD sont équipées de deux systèmes ROSA™ (Responsive Observation Security Agent), qui offrent des analyses de sécurité pilotées par l'IA, y compris la détection des humains, des armes à feu et des véhicules. L'entreprise prévoit de fournir un récapitulatif des ventes depuis le début de l'année et une prévision annuelle complète pour le SaaS et les revenus le 1er août 2024. Le modèle innovant de solutions en tant que service d'IA de RAD vise à réduire les coûts de sécurité pour les entreprises de 35 % à 80 % par rapport aux services de sécurité traditionnels habités.
Die Robotic Assistance Devices (RAD), eine Tochtergesellschaft von Artificial Intelligence Technology Solutions (OTCPK:AITX), haben die Erneuerung eines Vertrags für zwei RIO™-Einheiten von einem ihrer größten Kunden bekannt gegeben. Dies ist die erste von vielen erwarteten Erneuerungen und hebt die starke Kundenbindung von RAD hervor. Das Unternehmen berichtet von einer Jahresandel von weniger als 3% für die bereitgestellten und umsatzgenerierenden Einheiten, was das Ziel von weniger als 5% pro Quartal übertrifft.
Die RIO-Einheiten von RAD verfügen über duale ROSA™ (Responsive Observation Security Agent)-Systeme, die auf KI basierende Sicherheitsanalysen anbieten, einschließlich der Erkennung von Menschen, Schusswaffen und Fahrzeugen. Das Unternehmen plant, am 1. August 2024 eine Verkaufszusammenfassung seit Jahresbeginn sowie eine vollständige Jahresprognose für SaaS und Einnahmen bekannt zu geben. Das innovative, KI-gestützte Lösungen-als-service-Modell von RAD zielt darauf ab, die Sicherheitskosten für Unternehmen im Vergleich zu herkömmlichen Sicherheitsdiensten um 35% bis 80% zu senken.
- Contract renewal for two RIO units from a major client, indicating customer satisfaction
- Low year-to-date attrition rate of less than 3%, outperforming the target of 5% per quarter
- Expanding client base with potential for recurring revenue from Fortune 500 companies
- AI-driven security solutions offering 35%-80% cost savings compared to traditional manned security
- None.
Detroit, Michigan, July 30, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), is pleased to announce the first of many expected contract renewals from one of RAD’s largest clients. This first renewal is for two RIO™ units deployed last year. This client, who already has many RIO units deployed, continues to expand their use of RAD’s innovative security solutions even as they continue to expand their systems.
“Our organization stresses the best customer service and technical performance in the industry, and it shows with our exceptionally low attrition rates,” commented Mark Folmer, CPP, PSP, FSyI, President of RAD. “This particular client continues to expand and renew. We deeply appreciate and value our clients' trust in us, and we are committed to exceeding their expectations with every deployment.”
Steve Reinharz, CEO/CTO of AITX and RAD, commented, “This is our first renewal-specific press release. However, we have hundreds of devices that have been renewed over the years. In fact, our year-to-date attrition, specifically customer cancellations, is less than
The Company noted that it will provide a year-to-date sales roll up on August 1, 2024, as well as provide full-year SaaS and revenue guidance.
Sitting atop a standard RIO configuration are dual ROSA™ units. ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be installed and activated in about 15 minutes. ROSA’s AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous response library. Two-way communication is optimized for cellular, including live video from ROSA’s high-resolution, full-color, always-on cameras. RAD has published six Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at retail centers, hospital campuses, multi-family communities, car rental locations and construction sites across the country.
AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the
RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.
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, RAD-R, 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 staff 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, www.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
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Steve Reinharz
949-636-7060
@SteveReinharz
FAQ
What is the contract renewal announced by AITX's subsidiary RAD on July 30, 2024?
What is AITX's year-to-date attrition rate for deployed and revenue-producing units as of July 2024?
When will AITX provide its year-to-date sales summary and full-year guidance?
What cost savings does AITX's RAD solutions offer compared to traditional security services?
