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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 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.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced its subsidiary, Robotic Assistance Devices, Inc. (RAD), received two Secure Campus 2022 Awards from Campus Security & Life Safety magazine for the RAD Light My Way safety application. The awards recognize innovations in security and personal safety devices, demonstrating RAD's impact on campus security. CEO Steve Reinharz emphasized the application's role in enhancing personal safety for students. RAD's offerings incorporate advanced AI-driven robotic technologies, enhancing security solutions for various sectors.
Detroit, Michigan, March 29, 2022 – Artificial Intelligence Technology Solutions announced a significant boost in late-stage sales opportunities for its subsidiary Robotic Assistance Devices (RAD) after exhibiting at ISC West. CEO Steve Reinharz noted that prospects, including Fortune 500 firms, found value in RAD's solutions for labor and security challenges, leading to over 150 new qualified sales opportunities. RAD also received accolades, winning the Access Control Software award for its AVA 3.0 solution. The event marks a potential breakthrough for RAD's market presence.
Artificial Intelligence Technology Solutions (OTCPK:AITX) announced that its subsidiary Robotic Assistance Devices (RAD) won a prestigious award at the 2022 SIA New Products and Solutions Awards during the ISC West exhibition. The award recognized RAD's AVA 3.0 with STAN for Access Control Software. This autonomous device targets security tasks traditionally handled by human guards, promising substantial cost savings. The win highlights RAD's innovative technology and its capability to meet the growing demand for enhanced security solutions.
Artificial Intelligence Technology Solutions announced its subsidiary, Robotic Assistance Devices, has signed two new authorized dealers and received orders for three ROSA security robots from them. These dealers are based in Detroit and McLean, Virginia. At ISC West, RAD’s AVA solution won the SIA New Product Solutions Award. With these additions, RAD's dealer network now comprises 37 dealers across the US, Canada, and the EU. RAD's ROSA robots integrate AI-driven security analytics, including vehicle detection and live video capabilities.
Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced a new order for its AVA autonomous access control device from a subsidiary of a current dealer. This marks an expansion of their existing relationship and underscores RAD's innovative solutions in portable security systems. The AVA unit boasts a 180° field of vision and enhances security capabilities while being cost-effective. CEO Steve Reinharz expressed optimism about the collaboration, suggesting significant potential for all involved parties.
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