AITX's RAD Receives RIO Expansion Order from Top 25 Healthcare Provider

Rhea-AI Summary

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has secured an expansion order from a top 25 healthcare provider for its RIO™ 360 solar-powered security towers. This follows an initial deployment earlier this year, solidifying RAD's presence in the healthcare sector. Although details on the number of units and financials are confidential, this order reflects growing trust in RAD's security solutions. Additionally, the healthcare provider plans to deploy RAD Light My Way™, a mobile app and hardware solution aimed at boosting safety and security, particularly in parking areas.

RAD's ROSA™ units, part of the RIO 360 configuration, offer advanced security features such as human, firearm, and vehicle detection, and are optimized for quick installation and cellular communication. RAD's innovative security solutions provide significant cost savings of 35%-80% compared to traditional security services. RAD is poised for continued growth, with a sales pipeline including over 35 Fortune 500 companies.

Positive

• Secured an expansion order from a top 25 healthcare provider, indicating strong market trust.
• Continues to grow its presence in the healthcare sector.
• RAD's solutions offer 35%-80% cost savings over traditional security services.
• Advanced security features like human, firearm, and vehicle detection.
• RAD Light My Way™ mobile app enhances safety and security, particularly in parking areas.

Negative

• Confidentiality of specific financial details and unit numbers may limit transparency for investors.

Detroit, Michigan, July 11, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), is pleased to announce that it has secured an expansion order from a prominent healthcare provider ranked in the top 25 nationwide. This order builds on the initial deployment of RAD's RIO^™ 360 solar-powered security towers earlier this year.

The specifics of the new order, including the number of units and financial details, remain confidential. However, this significant follow-up order underscores the growing trust and reliance on RAD’s cutting-edge security solutions by leading healthcare organizations.

“The healthcare industry’s ongoing investment in RAD's technology is a testament to the value we bring in enhancing security and safety,” said Mark Folmer, CPP, PSP, FSyI, President of RAD. “This expansion order further validates our commitment to driving technological advancements that make a meaningful difference. We are excited to strengthen our presence in the healthcare market.”

The Company also noted that the client intends to deploy RAD Light My Way^™ as part of their ongoing expansion. RAD Light My Way is an integrated mobile app and hardware solution designed to enhance user safety and security. This innovative system empowers users by providing instant access to emergency services, real-time threat detection, and the ability to summon assistance through nearby RAD devices. This addition aims to significantly boost the overall security infrastructure, ensuring that healthcare workers feel safe and protected, especially when moving to and from parking areas.

According to the American Hospital Association, there are 6,120 hospitals in the United States as of 2024¹. Concerns about safety among hospital workers, especially when alone in parking lots, are significant. A recent report highlighted that healthcare workers frequently face threats and violence, with incidents in parking areas being common.² Hospitals are responding by enhancing security measures, including increased surveillance technology to protect staff when walking to and from their cars.³

Sitting atop a standard RIO 360 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 $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house. 

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-R, 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 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

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¹ https://www.aha.org/system/files/media/file/2024/01/fast-facts-on-us-hospitals-2024-20240112.pdf

² https://www.aamc.org/news/threats-against-health-care-workers-are-rising-heres-how-hospitals-are-protecting-their-staffs

³ https://www.cdc.gov/vitalsigns/health-worker-mental-health/index.html

FAQ

What is the significance of AITX's RAD receiving an expansion order from a top 25 healthcare provider?

This expansion order signifies growing trust and reliance on RAD's advanced security solutions in the healthcare sector, enhancing the company's market presence.

When did RAD secure the expansion order from the top 25 healthcare provider?

RAD secured the expansion order on July 11, 2024.

What are the key features of RAD's RIO 360 security towers?

RAD's RIO 360 security towers include AI-driven analytics for human, firearm, and vehicle detection, license plate recognition, and two-way communication with live video.

How does RAD Light My Way™ enhance safety in healthcare settings?

RAD Light My Way™ is a mobile app and hardware solution providing instant access to emergency services, real-time threat detection, and assistance through nearby RAD devices, improving safety, especially in parking areas.

What cost savings do RAD's solutions offer compared to traditional security services?

RAD's solutions offer cost savings of 35%-80% compared to traditional manned security guarding and monitoring services.

Why is the financial detail of AITX's recent order confidential?

The financial specifics of the order, including the number of units, remain confidential as per the company's disclosure policy.