Robotic Assistance Devices Receives Order from Regional Financial Institution

Rhea-AI Summary

Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced that its subsidiary, Robotic Assistance Devices Inc. (RAD), received an order for a ROSA180 unit from a significant regional financial institution. This marks RAD's entry into the financial services sector. CEO Steve Reinharz expressed optimism about the potential for numerous deployments in this market. The ROSA180 offers AI-driven security solutions with capabilities such as human and vehicle detection, license plate recognition, and live video monitoring. This deployment is significant, given the 76,837 commercial bank branches and 470,000 ATM locations in the U.S.

Positive

• First deployment of ROSA180 into the financial services industry, indicating market expansion.
• Potential for significant deployments in a sector with over 470,000 ATMs and 76,837 bank branches in the U.S.
• ROSA180's AI-driven features enhance security and communication for financial institutions.

Negative

• None.

HENDERSON, Nev.--(BUSINESS WIRE)-- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices Inc. (RAD) has received an order from a leading regional financial institution. Although not disclosed due to confidentiality agreements, the end-user for this 1 ROSA180 unit will be RAD’s first deployment into the financial services industry.

“It’s thrilling to open new markets, especially since we see so much potential for a significant number of deployments in this industry,” said Steve Reinharz, CEO of AITX and RAD. “This ROSA180 deployment opens up a new vertical market that is desperately in need of the solutions RAD provides. We’ll build on this win, and I’m excited to see this industry’s response when ROSA3.0 is revealed on October 13,” Reinharz added.

ROSA180 is a compact, self-contained, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary communications hardware. ROSA180’s AI-driven security analytics include human and vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and response library. Two-way communication is optimized for cellular, including live video from ROSA180’s dual high-resolution, full-color, always-on cameras.

Within the financial services industry, RAD’s ROSA180 has the unique ability to detect, deter and report the occurrences of loitering near ATMs or in bank entry vestibules. According to Statista, in 2019 there were 76,837 commercial bank branches in the U.S., with over 470,000 ATM locations.

Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all of design elements, performance, quality and the user’s experience of all security robots whether SCOT™, ROSA180™, Wally™, Wally HSO™, AVA™, or ROAMEO™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto.

Follow Steve Reinharz on Twitter @SteveReinharz for future RAD and AITX updates.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Artificial Intelligence Technology Solutions (AITX):

AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.aitx.ai and www.roboticassistancedevices.com, or follow Steve Reinharz on Twitter @SteveReinharz.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211001005161/en/

Steve Reinharz

949-636-7060

@SteveReinharz

Source: Artificial Intelligence Technology Solutions, Inc.

FAQ

What is the significance of AITX's recent order for the ROSA180?

AITX's order for the ROSA180 from a regional financial institution signifies its first entry into the financial services market, opening new deployment opportunities.

How many ATMs and bank branches are there in the U.S.?

As of 2019, there were approximately 470,000 ATMs and 76,837 commercial bank branches in the U.S.

What are the key features of the ROSA180?

The ROSA180 includes AI-driven security analytics, human and vehicle detection, license plate recognition, and live video monitoring capabilities.

When will ROSA3.0 be revealed?

ROSA3.0 is set to be revealed on October 13.