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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.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has secured an expansion order from a top 25 healthcare provider for its RIO™ 360 solar-powered security towers. This follows an initial deployment earlier this year, solidifying RAD's presence in the healthcare sector. Although details on the number of units and financials are confidential, this order reflects growing trust in RAD's security solutions. Additionally, the healthcare provider plans to deploy RAD Light My Way™, a mobile app and hardware solution aimed at boosting safety and security, particularly in parking areas.
RAD's ROSA™ units, part of the RIO 360 configuration, offer advanced security features such as human, firearm, and vehicle detection, and are optimized for quick installation and cellular communication. RAD's innovative security solutions provide significant cost savings of 35%-80% compared to traditional security services. RAD is poised for continued growth, with a sales pipeline including over 35 Fortune 500 companies.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has received an initial order for a RIO 360 solar-powered security tower from a Miami-based car dealership.
The RIO unit will help enhance security and customer service, operating alongside manned security guards to reduce after-hours loitering and trespassing. The deployment is part of RAD's broader strategy to penetrate the U.S. car dealership market, which faces challenges such as high-value inventory theft and vandalism due to supply chain disruptions.
RAD's solutions offer substantial cost savings, enhancing security and operational efficiency at dealerships nationwide. The company provides AI-driven, subscription-based security services, including the award-winning ROSA units. RAD aims to convert its sales pipeline into recurring revenue, targeting over 35 Fortune 500 companies.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK: AITX), expressed support for the recent vetoes by Kansas Governor Laura Kelly and Missouri Governor Mike Parson. These vetoes blocked legislation that would have school safety funding to a single provider, ZeroEyes, thereby ensuring fair competition. RAD's CEO, Steve Reinharz, emphasized that these decisions promote a competitive marketplace, fostering innovation and providing schools with diverse safety solutions. RAD recently announced enhanced gun detection technology and aims to achieve SAFETY Act Designation. The company has a sales pipeline involving over 35 Fortune 500 companies, expecting recurring revenue from these prospects. RAD's AI-driven solutions claim to offer 35%-80% cost savings compared to traditional manned security models.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has secured a significant order from a Fortune 100 life sciences company. The initial deployment includes RAD's RIO security tower, with potential for over 200 installations across various locations. This partnership highlights RAD's advanced AI-powered security solutions, addressing increasing security incidents that impact business operations and profitability. This achievement underscores RAD's market trust and positions AITX for substantial growth as they await decisions from other Fortune 500 companies.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has secured an order for six RIO units from a new dealer. These units will be deployed at decommissioned schools in California to enhance security and monitoring. The RIO units, equipped with dual ROSA units, offer solar-powered, autonomous surveillance and threat detection. RAD's technology aims to address security challenges in abandoned properties, leveraging AI-driven analytics for human, vehicle, and firearm detection, as well as license plate recognition and real-time communication. This deployment highlights RAD's innovative approach to security, which can significantly reduce costs compared to traditional manned guarding.
Artificial Intelligence Technology Solutions (OTCPK: AITX) and its subsidiary Robotic Assistance Devices (RAD) have announced a 20% growth in their distribution channel partners over the past six months. This expansion includes 14 new strategic partners, enhancing their reach in the US, Canada, and the EU. RAD's flagship product, the ROSA system, which offers a comprehensive AI-driven security solution, has been pivotal in attracting these new partners. RAD's solutions, which promise significant cost savings of 35%-80% compared to traditional manned security, continue to draw interest from major clients, including a sales pipeline with over 35 Fortune 500 companies.
Artificial Intelligence Technology Solutions (AITX) reported a significant financial milestone for Q1 FY 2025, achieving over $1 million in total revenue for the first time. The company recorded $1,098,975 in revenue, a 2.86x increase compared to the previous year’s $384,277. Additionally, AITX saw a 385% YoY rise in recurring monthly revenue (RMR).
CEO Steve Reinharz highlighted strategic investments in sales, support, and development aimed at ensuring operational profitability. The company is also preparing for the launch of its Gen4 solutions and the relaunch of ROAMEO™.
Over $125,000 in RMR is pending deployment, potentially adding $375,000 to quarterly revenue. AITX continues to see strong re-orders from both large and small clients. The company’s AI-driven security solutions, offered as a subscription service, aim to significantly reduce security costs for businesses.
Artificial Intelligence Technology Solutions (OTCPK:AITX) has announced the launch of the Beta Test Program for RADCam, the first home security camera from its subsidiary RAD Residential (RAD-R). RADCam utilizes AITX’s proprietary Autonomous Intelligent Response (AIR™) technology, offering intelligent, human-like responses and real-time monitoring. The Beta Test Program is open to end-users across the U.S., with the aim of refining the product before its official release. The company plans to have RADCam ready for sale by November, to align with the holiday shopping season.
Artificial Intelligence Technology Solutions' (AITX) subsidiary, Robotic Assistance Devices (RAD), has released a case study showcasing the effectiveness of its RIO and ROSA units in enhancing retail center security. The AI-driven devices have achieved a 75% reduction in crime at Midwest retail properties, notably decreasing car break-ins, solicitation, and loitering. The deployment of 7 RAD RIO 360 units and 5 ROSA devices has also led to significant cost savings. RAD’s technology has been widely accepted by property management, tenants, and local law enforcement, with significant positive feedback. This aligns with RAD's goal of providing cost-effective security solutions, reducing the need for human guards, and fostering safer environments.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), successfully deployed four RAD RIO (ROSA Independent Observatory) solar-powered mobile surveillance units at the 2024 CMA Fest in Nashville.
The event, one of the largest country music festivals, saw tens of thousands of attendees. The RAD RIO units provided seamless, real-time surveillance, enhancing security with AI-driven technology that monitored crowd movements, detected unusual activities, and facilitated swift communication with security personnel.
This deployment showcased RAD's ability to offer a cost-effective alternative to traditional security methods, and RAD anticipates further event deployments in the coming months.
RAD solutions, designed to reduce security costs by 35%-80%, include advanced AI analytics and are used in various environments like retail centers and hospital campuses. RAD's prospective sales pipeline includes over 35 Fortune 500 companies.
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