AITX’s Subsidiary Robotic Assistance Devices Takes Delivery of Over 700 ROSA Shells

Rhea-AI Summary

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), has received over 700 enclosures for its popular security robot, ROSA, at its Detroit facility. Following a surge in sales, AITX's CEO, Steve Reinharz, noted the decision to order enclosures was strategic as RAD expands its product line with three new solutions: RIO, RIO Mini, and ROSA-P. RAD's cost-cutting measures have resulted in ROSA unit costs being halved due to bulk purchases. The company aims to streamline operations and enhance manufacturing capabilities while maintaining a strong sales pipeline with over 35 Fortune 500 clients.

Positive

• Received over 700 enclosures for ROSA, indicating strong demand.
• Cost reductions for ROSA units are 50% via bulk enclosure purchases.
• Expansion of product line with RIO, RIO Mini, and ROSA-P, all selling well.
• Strong sales pipeline with over 35 Fortune 500 companies.
• Expected recurring revenue from existing clients.

Negative

• None.

Detroit, Michigan, April 04, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), has received more than 700 enclosures for its best-selling security robot ROSA^™ at the Company’s manufacturing facility, the REX, in Detroit, Michigan.

“As ROSA’s sales velocity accelerated last summer, we made the strategic decision to order a large quantity of the device’s enclosure,” said Steve Reinharz, CEO of AITX and RAD. “I’m so glad we did. We’ve since announced three additional solutions that utilize the same ROSA enclosure: RIO^™, RIO Mini^™ and ROSA-P^™. Just like the original ROSA, these new devices are selling well, the REX and the entire Company is gearing up to build and deploy more.”

“It is not unusual for dealers or end-users to request quick delivery of ROSA units,” said Mark Folmer, CPP, FSyI, President of RAD. “RAD's clients are increasingly recognizing the capabilities of ROSA in resolving complex security issues while minimizing expenses and reducing the need for human guard deployments. With these ROSA enclosures, we should soon be able to deploy almost any ROSA order in a short period of time.”

RAD had previously disclosed that ROSA 3.0 and soon to be announced ROSA 4.0 unit costs are 50% of the previous production models. These cost reductions are attributed to the bulk enclosure purchases, and by utilizing RAD-G’s ‘RADPack Mili’ controller that has replaced most existing internal hardware. “The Company is focused on reducing costs by tightly integrating components developed in-house, enhancing our purchasing prowess, and fortifying our manufacturing capabilities at the REX. Our efforts in this direction have yielded positive outcomes and we are currently making significant progress towards achieving our objectives,” Reinharz commented.

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, it only requires power 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 three Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at 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 a 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 this tremendous costs 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.

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.

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, www.stevereinharz.com, www.radsecurity.com, www.radgroup.ai, 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 recent developments has AITX announced regarding the ROSA security robot?

AITX announced that its subsidiary RAD received over 700 enclosures for the ROSA security robot, reflecting increased demand.

How has AITX reduced the costs of ROSA units?

The costs of ROSA units have been reduced by 50% through bulk purchases of enclosures and the integration of in-house developed components.

What new products has AITX launched alongside ROSA?

AITX has launched three new solutions: RIO, RIO Mini, and ROSA-P, which are designed to utilize the same enclosure as ROSA.

What is the significance of AITX's sales pipeline?

AITX has a prospective sales pipeline of over 35 Fortune 500 companies, indicating strong growth potential.

What is the business model of AITX's RAD subsidiary?

RAD operates on a Solutions-as-a-Service model, providing significant cost savings of 35% to 80% compared to traditional manned security.