Welcome to our dedicated page for ARTIFICIAL INTL SLTNS news (Ticker: AITX), a resource for investors and traders seeking the latest updates and insights on ARTIFICIAL INTL SLTNS stock.
Artificial Intelligence Technology Solutions Inc. (AITX) is a pioneer in delivering cutting-edge artificial intelligence and robotic solutions aimed at enhancing operational efficiency, security, and monitoring capabilities across various industries. Founded in 2016 and headquartered in Reno, Nevada, AITX was formerly known as On The Move Systems Corp before rebranding in August 2018 to better reflect its mission and expertise.
AITX, through its wholly-owned subsidiary Robotic Assistance Devices Inc. (RAD), offers a suite of AI-driven security and productivity solutions. These innovative solutions include both stationary and mobile robotic devices that reduce dependence on human personnel while improving operational efficiency, providing significant cost savings of 35%-80% compared to traditional security measures. RAD's product lineup features the ROSA, RIO, AVA, and RADDOG units, which incorporate advanced AI analytics for tasks such as firearm detection, human and vehicle detection, and license plate recognition, all integrated into a comprehensive security and communication platform.
FY2024 marked a year of substantial growth for AITX, highlighted by a remarkable 505% increase in recurring monthly revenue (RMR), rising from $56,802 to $283,624. This growth is driven by the deployment of 104 units in Q4 FY2024, the largest quarterly deployment to date. The company's gross profit also surged by 68% to $1,096,457, bolstered by enhanced operational efficiencies and robust demand for its innovative solutions.
A significant milestone includes the introduction of RIO in FY2024, which contributed $143,686 in RMR in its final operational month. The company's R&D expenses were reduced from $3.6 million in FY2023 to $2.8 million in FY2024, even as it launched new generations of its flagship products, resulting in increased production and supply line efficiencies.
AITX's strategic initiatives include a partnership with Nightingale Security, integrating RAD's ground-based robots with Nightingale's drones to form a robust, comprehensive security ecosystem. This collaboration underscores AITX's commitment to leveraging emerging technologies for superior security solutions.
Looking ahead, AITX is positioned for continued success with plans to achieve cash flow positivity in FY2025. The company's focus on developing AI-driven solutions and forming strategic alliances ensures its leadership in the rapidly evolving security technology market.
For more information, visit www.aitx.ai, www.radsecurity.com, or follow CEO Steve Reinharz on Twitter at @SteveReinharz.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced a significant order expansion from DSI Security Services for 50 RAD devices, including 44 ROSA security robots and 6 AVA access control devices. This marks the company's largest order through an authorized dealer. The end user, a global leader in transportation manufacturing, will implement these devices across five facilities, aiming to modernize security operations. AITX's RAD solutions promise savings of up to 90% in the first year compared to traditional security methods. The company is also pursuing uplisting to the OTCQB.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), has secured an order for 5 security robots from a leading global logistics company. Valued in the low six figures, the deployment is set for July at the client's logistics center. This order increases the total units to 39 for this Fortune 500 client. The logistics automation industry is projected to grow significantly, reaching $147.38 billion by 2030. AITX is also seeking an uplisting to the OTCQB, with further updates expected soon.
Artificial Intelligence Technology Solutions (AITX) has announced that its subsidiary, Robotic Assistance Devices (RAD), is currently involved in filming for its third movie and one television series. RAD's robots are gaining popularity among film creators for their interactive capabilities and unique appearances. The company is not paying for product placements, and its devices are expected to feature in notable productions with potential releases by the end of the year. AITX is also pursuing an uplisting to OTCQB, with updates anticipated shortly.
Detroit, Michigan, June 10, 2022 - Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced a record order for a minimum of 37 RAD devices from a major dealer. This order, comprising ROSA and AVA security robots, marks the largest unit order through an authorized dealer. The end user, a global leader in transportation manufacturing, will deploy these robots across five facilities, aiming for significant cost savings—up to 90% in the first year. AITX is also seeking uplisting to OTCQB.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced a major demonstration of its security solutions, including ROSA™, SCOT™, and RAD Light My Way™, at a prominent healthcare organization. This event signifies RAD's largest private demonstration since the pandemic, attended by leading hospitals and a major consumer goods manufacturer.
The company notes a surge in interest from major guarding firms, with plans for co-branded solutions aimed at meeting rising security demands amidst labor shortages and inflation.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announces the publication of an article by CEO Steve Reinharz titled “We Need Robots, Not Rate Hikes!” The article critiques the negative impact of Federal Reserve rate hikes on employment over the last six decades and advocates for automation as a solution. Reinharz argues that technology can enhance productivity, fill job vacancies, and curb inflation without necessitating layoffs. AITX has also filed for uplisting to the OTCQB, with future updates expected regarding this application.
Artificial Intelligence Technology Solutions (AITX) announced that its subsidiary Robotic Assistance Devices (RAD) appointed NANA Management Services (NMS) as a new authorized dealer, receiving an order for one ROSA security robot. The ROSA unit will be used for client demonstrations. NMS, a leading security services provider in Alaska, aims to enhance security solutions amid staffing shortages. With NMS on board, RAD's dealer network expands to 44 dealers across North America and Europe. AITX is also pursuing an uplisting to the OTCQB, with future updates expected.
Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced that its subsidiary, Robotic Assistance Devices, Inc. (RAD), has appointed USA Security as a new dealer and received an order for two ROSA security robots. These robots will be deployed at a major retail center in Minneapolis, enhancing security while offering estimated savings of $300,000 over three years. This expands RAD's dealer network to 43 across various regions. AITX has also filed for uplisting to OTCQB, with further announcements expected regarding this application.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced its application to up-list from the OTC Pink Open Market to the OTCQB market. This move aims to enhance visibility and attract a broader investor base. CEO Steve Reinharz expressed optimism about the listing, which requires adherence to stringent financial reporting standards and undergoing a verification process. The company, through its subsidiary Robotic Assistance Devices (RAD), offers innovative AI-driven security solutions, potentially saving businesses 35%-80% compared to traditional security models.
Artificial Intelligence Technology Solutions (OTCPK: AITX) reported a remarkable 400% revenue increase year-over-year, totaling $1,447,109 for FY 2022. The company’s cash position improved significantly, rising to $4,648,146 as of February 28, 2022, aided by over $12.5 million in share proceeds and $9.4 million in loans. The workforce expanded by 226%, with a current headcount of 83. AITX anticipates further growth, projecting a potential increase in recurring monthly revenue run rates by up to 20 times by the end of February 2023, and plans to uplist to the OTC QB by June 10, 2022.
FAQ
What is the current stock price of ARTIFICIAL INTL SLTNS (AITX)?
What is the market cap of ARTIFICIAL INTL SLTNS (AITX)?
What does Artificial Intelligence Technology Solutions Inc. (AITX) do?
What recent achievements has AITX accomplished?
How does AITX's RMR model work?
What industries benefit from AITX's solutions?
What are some of AITX's key products?
What partnerships has AITX formed recently?
What are AITX's plans for the future?
How does AITX's technology reduce costs?
Where is AITX headquartered?
What is the significance of AITX's 505% RMR growth?
