ARTIFICIAL INTL SLTNS - AITX STOCK NEWS

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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.

03/22/2024 08:40 AM

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AITX’s and RAD’s ROSA Appears in ‘Cash Out’ Starring John Travolta

Rhea-AI Summary

Robotic Assistance Devices Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (AITX), announced that its AI-powered security solution, ROSA, is featured in the upcoming action film 'Cash Out'. CEO Steve Reinharz attended the film premiere at the Gasparilla International Film Festival. Cash Out, starring John Travolta and Kristin Davis, is a cat-and-mouse heist film set to release on April 26, 2024.

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03/21/2024 08:40 AM

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AITX’s RAD Has Begun 100 Unit Robot Dog ‘RADDOG’ LE Generation 2 Production Run

Rhea-AI Summary

Robotic Assistance Devices Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (AITX), has initiated early production stages for 100 units of RADDOG™ LE Gen2, designed for law enforcement applications. With strong interest from law enforcement agencies nationwide, RAD aims to lead in autonomous devices, potentially generating $3.5 million in annual recurring revenue. RAD's innovative AI-driven solutions aim to revolutionize the security industry, offering significant cost savings compared to traditional manned security models.

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03/20/2024 08:40 AM

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AITX’s RAD Makes History with First Robotic Dog Deployed to Taylor Police Department

Rhea-AI Summary

Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc., delivers RADDOG LE to Taylor Police Department, marking a milestone in technology integration in law enforcement. RADDOG LE, a state-of-the-art quadruped robot dog, aims to enhance public safety and streamline operations with advanced mobility and surveillance capabilities.

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03/13/2024 08:40 AM

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AITX’s RAD Expands Further into Oil and Gas Industry with Solar-Powered AVA

Rhea-AI Summary

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (AITX), secures the first purchase order for the Solar AVA autonomous access control device in the Oil & Gas industry. The device aims to automate access to remote sites, reducing manned guard service expenses. RAD's innovative solution merges AVA technology with solar power, offering cost-effective and efficient access control alternatives.

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03/12/2024 05:51 PM

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AITX’s RAD Updates Profitability and Financing Outlook

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AITX reconfirms its target of achieving operational profitability by August 2024, supported by a substantial revenue growth of 465% from March 2023 to March 2024. The company aims to deploy over $500K in recurring monthly revenue by April 2024, utilizing inventory-secured debt to meet production demands and increase authorized share count to 12.5 billion to support growth and operational needs.

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03/07/2024 08:40 AM

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AITX’s RAD Expands Sales Outreach and Industry Visibility Leading Up to ISC West

Rhea-AI Summary

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (AITX), is gearing up to showcase its AI-powered security solutions at upcoming conferences and webinars. With a focus on Autonomous Remote Services and Firearm Detection technology, RAD aims to revolutionize security services across sectors. The CEO/CTO of AITX and RAD, Steve Reinharz, highlights the commitment to innovation and enhancing security posture. The company's participation in key events like ISC West reflects its dedication to driving industry advancements and expanding its reach.

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03/05/2024 08:40 AM

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AITX’s RAD Deploys Record Number of Devices in February

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Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (AITX), achieved a significant milestone in February 2024 by initiating billing for a record number of security devices, showcasing the company's revenue growth and product diversity.

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03/04/2024 08:40 AM

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AITX’s RAD March 3, 2024 Investor ‘Ask Me Anything’ Available Online

Rhea-AI Summary

AITX and RAD recently completed an AMA session for investors, addressing key points like company achievements, financial health, stock performance, and strategic plans. The session emphasized transparency, stock factors, and material items affecting the Company's trajectory. AITX aims to revolutionize the security and productivity landscape through AI-driven solutions.

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02/29/2024 08:40 AM

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AITX's Subsidiary RAD Surpasses 400 Unit Fiscal Year Order Intake Milestone

Rhea-AI Summary

Artificial Intelligence Technology Solutions, Inc. (AITX) and its subsidiary Robotic Assistance Devices, Inc. (RAD) have achieved a significant milestone with 400 device orders in their fiscal year, showcasing strong growth and demand for AI-driven security solutions despite global challenges. RAD's success highlights the increasing interest in AI and robotics for enhancing security and operational efficiency.

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02/27/2024 08:40 AM

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AITX’s RAD Begins Production Run of 1000 Next Generation RIO Solar-Powered Security Towers

Rhea-AI Summary

Robotic Assistance Devices (RAD) ramps up production of the next generation RIO Gen 4 mobile security solution, aiming for cost savings and revenue growth. The company is ahead of schedule in production, showcasing efficiency and potential profitability.

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FAQ

What is the current stock price of ARTIFICIAL INTL SLTNS (AITX)?

The current stock price of ARTIFICIAL INTL SLTNS (AITX) is $0.003 as of November 25, 2024.

What is the market cap of ARTIFICIAL INTL SLTNS (AITX)?

The market cap of ARTIFICIAL INTL SLTNS (AITX) is approximately 40.5M.

What does Artificial Intelligence Technology Solutions Inc. (AITX) do?

AITX focuses on delivering AI-based security and monitoring solutions through its subsidiary Robotic Assistance Devices (RAD). Their products enhance operational efficiency and reduce reliance on human personnel.

What recent achievements has AITX accomplished?

AITX achieved a 505% increase in recurring monthly revenue in FY2024 and reduced R&D expenses significantly. They also introduced new products like RIO, which contributed significantly to their revenue growth.

How does AITX's RMR model work?

Recurring Monthly Revenue (RMR) is generated from customers who subscribe to AITX's services or products on a monthly basis, typically under a minimum 12-month contract.

What industries benefit from AITX's solutions?

AITX's solutions are used in various industries, including enterprise, government, transportation, critical infrastructure, education, and healthcare.

What are some of AITX's key products?

Some key products include ROSA, RIO, AVA, and RADDOG, which offer advanced AI analytics for security and monitoring.

What partnerships has AITX formed recently?

AITX has partnered with Nightingale Security to integrate RAD's ground-based robots with Nightingale's drones, creating a comprehensive security ecosystem.

What are AITX's plans for the future?

AITX aims to achieve cash flow positivity by FY2025 and continue developing AI-driven security solutions while forming strategic alliances.

How does AITX's technology reduce costs?

AITX's AI-driven solutions reduce costs by replacing traditional manned security with more efficient robotic and AI systems, saving businesses 35%-80%.

Where is AITX headquartered?

AITX is headquartered in Reno, Nevada.

What is the significance of AITX's 505% RMR growth?

The 505% growth in RMR reflects the increasing demand for AITX's innovative solutions and their successful deployment strategy, indicating strong market acceptance.