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, Inc. (AITX) announced that its subsidiary, Robotic Assistance Devices, Inc. (RAD), secured multiple sales during the week of May 9, 2022, including two AVA units, one Wally device, and four ROSAs. RAD has expanded its dealer network to 39 across the US, Canada, and EU. CEO Steve Reinharz noted that sales efforts from ISC West are yielding positive results. AITX plans to file for OTCQB listing shortly after submitting its YE2022 10-K in May. RAD's solutions aim to enhance security and operational efficiency for various industries.
AI Technology Solutions (AITX) announced that its subsidiary Robotic Assistance Devices (RAD) has secured an order for 2 AVA and 1 Wally security robots from a top global logistics company. This undisclosed client, a leader in supply chain management, will deploy the robots at a logistics center in June, bringing the total units deployed to 30. CEO Steve Reinharz highlighted the strong partnership and cost-saving benefits of RAD’s offerings. AITX plans to file for OTCQB listing shortly after its YE2022 10-K submission.
Artificial Intelligence Technology Solutions (AITX) announced the addition of Global Guardian as an authorized dealer of its subsidiary, Robotic Assistance Devices (RAD). The deal includes an initial order for a ROSA security robot, which will serve demonstration purposes for Global Guardian's diverse global clientele. RAD's dealer network has now expanded to 38 partners. AITX plans to file for listing on the OTCQB within 10 days of its year-end 2022 filing, indicating continued growth in the automated security sector.
Artificial Intelligence Technology Solutions (AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), is awaiting final approval for two significant orders. The initial deployment will involve 8 ROSA units as a pilot program at a major retailer, with potential expansion to thousands of locations. Additionally, RAD is in discussions with a casino operator for an order of 20 ROSA units and one SCOT. RAD Light My Way has recently won two awards, reflecting its innovative safety solutions. AITX plans to file for OTCQB listing within 10 days of its YE2022 10-K filing.
Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced a collaboration with Nightingale Security to integrate their security robots with autonomous aerial drones. This pioneering integration will enable ground-based security robots, like ROAMEO, to autonomously deploy drones for enhanced surveillance. Both companies intend to leverage existing sales channels to market this solution in the coming months. AITX plans to file for OTCQB listing shortly after its YE2022 10-K filing.
Artificial Intelligence Technology Solutions announced a significant order for five ROSA security robots from a prestigious private college on the East Coast, facilitated by one of RAD’s largest authorized dealers. This deployment showcases RAD's technological advancements in security solutions. The ROSA robots, managed by a new incident management system, aim to enhance campus security without the need for complex installations. Additionally, over a dozen universities are considering RAD's innovative 'Light My Way' initiative, further indicating growing interest in RAD's offerings.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced an order for 2 ROAMEO and 3 ROSA security robots from a leading global logistics company. These robots will enhance security at the client’s logistics centers, with deployment expected in May or June. This marks a significant technological advancement as the stationary ROSA robots will coordinate with the mobile ROAMEO for real-time incident response. Additionally, a previous order for RAD robots is set to deploy on April 25. AITX plans to apply for OTCQB listing soon.
Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) has announced an order for two AVA autonomous access control devices from ECAMSECURE, a subsidiary of GardaWorld. This partnership, initiated in late 2021, aims to enhance portable security systems. AVA features a 180° field of vision and is designed for various applications, such as logistics and corporate campuses. Recognized at the 2022 SIA New Products and Solutions Awards, AVA demonstrates RAD's commitment to innovative security solutions that provide cost-effective alternatives to manned security.
Artificial Intelligence Technology Solutions (AITX) announced its subsidiary, Robotic Assistance Devices (RAD), is launching version 6 of its detection analytics software. This upgrade enhances performance in human and vehicle detection, achieving precision rates of approximately 92% for human detection and 99.999% for target classification. The new features include license plate recognition and non-biased 'Human Attribute Detection'. AITX plans to file utility patents for unique features developed, aiming to strengthen its market position.
Artificial Intelligence Technology Solutions (AITX) has announced an order for 4 ROSA security robots from a major US energy company. This deployment is expected to save the client over $150,000 annually compared to traditional security services. The ROSA robots can autonomously deter trespassing while delivering positive messages, making them ideal for large, unmonitored properties. AITX continues to innovate in AI and robotics, providing advanced security solutions that enhance operational efficiency and reduce costs.
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?
