AITX's Subsidiary Robotic Assistance Devices Receives Surge of 33 Security Robots Placed on Order
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced 33 new device orders via its subsidiary, Robotic Assistance Devices (RAD), since the last update, including 28 ROSAs and 5 TOMs for four clients. One dealer is deploying 26 ROSAs at a distribution center, while an existing client is adding five TOM units. RAD's sales pipeline includes over 35 Fortune 500 companies, indicating potential for recurring revenue. AITX is also pursuing uplisting to the OTCQB, with further announcements expected soon.
- Secured 33 orders for security devices, including 28 ROSAs and 5 TOMs, indicating strong demand.
- Expansion of sales pipeline with over 35 Fortune 500 companies involved.
- Deployment of 26 ROSAs at a distribution center could lead to further orders.
- Plans for OTCQB uplisting, potentially enhancing visibility and credibility.
- None.
Orders for 33 Devices Secured Since Last Public Update
Detroit, Michigan, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has received multiple orders, totaling 33 units, to be delivered to four different clients. The product mix of the 33 security devices ordered since the last public announcement is 28 ROSAs and five TOMs.
“It’s wonderful to see the RAD sales pipeline flow with big potential opportunities and the addition of new authorized dealers,” said Mark Folmer, President at RAD. “One of our very active dealers is extending their dominance into the auto market with a single order of 26 ROSA units, the details of which we will release in the future. Additionally, we’re thrilled to add two new regional powerhouse dealers that will each take a ROSA as a demo unit. Plus, another existing client is further expanding their system with an additional five TOM units. Last week was a solid sales week.”
RAD’s ROSA has received industry recognition for its autonomous ability to detect and deter instances of trespassing and other property intrusions without the need for manned guarding assistance. Folmer confirmed that all 26 ROSAs will be deployed at one of the client’s distribution centers.
“Every deployment is an advertisement for continued potential expansion. I hope that after these 26 units are successfully deployed this end user will expand through the rest of their facilities,” said Steve Reinharz, CEO of AITX and RAD. “The RAD technology now shipping is proving its value every day helping keep properties and assets secure. When the end-users realize the great savings that are gained over costly manpower, they order more. We will continue to create and deploy complementary solutions to fulfill our mission of revolutionizing proptech with AI-enabled technology and near Wi-Fi quality cellular connectivity,” Reinharz concluded.
Although not yet named due to confidentiality agreements, the Company indicated that the end-user for the five TOM visitor management devices is an existing client, a global leader in supply chain management and third-party logistics. The TOM devices are expected to be deployed in November at one of the client’s logistics centers.
RAD expects to make additional announcements of recently signed authorized dealers and further sales updates in the immediate future.
ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, a stand-alone ROSA only requires power, which is provided when configured along with RIO, as it includes all necessary communications hardware. 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 dual high-resolution, full-color, always-on cameras. RAD has published two Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at car rental locations and construction sites across the country.
RAD has a 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.
RAD’s parent company 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, ROSA™, AVA™, ROAMEO™, RADDOG™, RIO™, RAD Light My Way™, or TOM. 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. No information contained in this news release should be construed as any indication whatsoever of the Company's future stock price, revenues, or results of operations. Additionally, industry data provided herein is of no predictive value regarding the future sale of the Company’s products. 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, radgroup.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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Steve Reinharz
949-636-7060
@SteveReinharz
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FAQ
What recent orders did AITX report?
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When are the TOM devices expected to be deployed?
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