Artificial Intelligence Techno - AITX STOCK NEWS

Artificial Intelligence Technology Solutions (OTCPK:AITX) announces that its subsidiary, Robotic Assistance Devices (RAD), expects to achieve operational profitability in September 2024. RAD's core operational costs of approximately $515,000 are projected to be covered by its revenue for the first time. This milestone excludes AITX's other subsidiaries and public company expenses.

RAD's contracted backlog is about $175,000 in monthly recurring revenue. AITX continues to invest in R&D for new solutions and maintains SEC reporting compliance. The company aims to reach its first million-dollar revenue month by February 28, 2025. This achievement signifies RAD's robust business model and AITX's commitment to shareholder value, particularly significant for an OTC stock.

AITX's subsidiary RAD-R is set to launch pre-orders for its innovative RADCam™ in mid-September, aiming to revolutionize residential and small business security. This AI-powered talking camera integrates advanced communication features, potentially outpacing legacy competitors. The decision to open pre-orders comes in response to high customer interest, with the goal of delivering the product in time for the holiday shopping season.

CEO Steve Reinharz expressed excitement about entering the B2C and SMB markets, confident that RADCam will set new industry standards. The company plans to release pricing, availability, and online store details soon. AITX anticipates that RADCam's pre-orders and subscription fees could significantly contribute to its Q3 FY 2025 revenues, strengthening its recurring revenue stream.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has received purchase orders for 53 RIO™ units from a major Fortune 500 client. These orders, previously announced in July, are expected to generate over $1 million in annual recurring revenue (ARR) when fully deployed. This brings RAD closer to its goal of organically reaching $10 million in ARR this fiscal year.

The RIO units feature dual ROSA™ (Responsive Observation Security Agent) systems, which offer AI-driven security analytics including human, firearm, and vehicle detection, license plate recognition, and responsive digital signage. RAD has begun manufacturing and allocation in July, with deployments set to start in late August. This development aligns with CEO Steve Reinharz's expectation of a productive second half of the year in terms of orders, deployments, and technical innovation.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), is on track to surpass a $10 million annual recurring revenue (ARR) run rate this fiscal year. The company expects to receive orders for 52 RIO™ solar-powered security trailers across 15 new sites, generating nearly $1 million in ARR. As of August 1, 2024, AITX's recurring monthly revenue (RMR) had grown to approximately $625,000. With the new orders and existing backlog, RAD's core device SaaS revenue is projected to exceed $800,000 in RMR, potentially pushing the total ARR over $10 million when including remote monitoring revenue. The company's CEO, Steve Reinharz, expressed optimism about future growth, particularly with the upcoming release of mobility products and AIR™ technology.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), announced RADDOG's appearance at the Junior League World Series in Taylor, Michigan. The quadruped robot dog, part of the Taylor Police Department, delivered the ceremonial first pitch baseball and was broadcast live on ESPN+. RADDOG serves as both an operational asset and community ambassador, supporting law enforcement with patrols and surveillance while engaging with citizens at public events.

Troy McCanna, RAD's Chief Security Officer, highlighted RADDOG's role in bridging the gap between law enforcement tools and public perception. RAD invites law enforcement agencies to experience RADDOG's benefits firsthand. CEO Steve Reinharz mentioned plans to produce 100 enhanced V2 units by early 2025. RAD aims to redefine the $25 billion security industry with AI-driven solutions, offering cost savings of 35%-80% compared to traditional manned security models.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has received an order for 6 devices from a major solar farm operator. The order includes 2 stationary ROSA™ units and 4 portable RIO™ 360 solar-powered security towers. This marks RAD's second major client in the solar farm industry, demonstrating growing recognition of its technology. The devices will enhance security measures and safeguard high-value assets in solar farms.

RAD's President, Mark Folmer, highlighted the accelerating investment in their technology by the solar farm industry. Troy McCanna, RAD's Chief Security Officer, emphasized the cost-effectiveness and reliability of their units compared to human guarding for vast solar farm properties. As of August 2024, there are over 7,120 solar farm projects in the United States, indicating strong growth in the sector.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has announced a significant milestone in its mission to revolutionize the security industry. The company projects that its AI-powered security solutions will deliver an estimated $10 million in human guarding cost savings to its clients in August 2024 alone.

RAD's autonomous security devices are currently deployed in 34 states, including the District of Columbia, and are operating in 105 cities. These deployments have demonstrated the capability to deliver substantial cost savings within a single month. RAD estimates that its devices have deterred thousands of potentially criminal or dangerous incidents.

The company has refined its marketing strategy, introducing the 'Deter, Observe, Report — Better' badge and plans to launch Autonomous Intelligent Response (AIR™) technology across its product line, starting with RADCam™ in September.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has been awarded the 2024 Technology Innovation Leadership Award by Frost & Sullivan. This recognition highlights RAD's revolutionary impact in the autonomous robotics industry.

The award acknowledges RAD's innovative approach to integrating human oversight with autonomous operations, setting a new standard for efficiency in security measures. Frost & Sullivan's analysis emphasizes RAD's sophisticated human-machine collaboration, which enhances overall effectiveness and reduces response times.

Steve Reinharz, CEO/CTO of AITX and RAD, expressed honor in receiving the award, stating it affirms their commitment to revolutionizing the security industry with AI-driven technologies. The award also noted RAD's scalable technology, offering flexibility and configurability to support timely decision-making for customers.

Artificial Intelligence Technology Solutions Inc. (OTCPK:AITX) has updated its revenue guidance for RADCam, an advanced residential and small business security solution developed by its subsidiary RAD Residential, Inc. The company projects first-year revenues between $1 million to $2 million, up from previous estimates of $200,000 to $800,000. This forecast includes a recurring monthly revenue (RMR) of $150,000 to $400,000 and is based on anticipated sales of 6,000 to 16,000 units.

RADCam aims to outperform legacy competitors like Arlo, Ring, and Nest with advanced features such as enhanced AI-driven analytics and superior data privacy measures. The company's marketing strategy includes engaging 125 beta testers to refine the product and generate customer feedback. RADCam will be the first product to feature AITX's autonomous intelligent response (AIR™) software platform, positioning it as a next-generation smart solution in the security camera market.