Robotic Assistance Devices Updates Business Description and Details
Artificial Intelligence Technology Solutions, Inc. (AITX) announced that its subsidiary Robotic Assistance Devices Inc. (RAD) has updated its business description, revealing critical metrics about its operations. RAD currently employs 65 staff members and has deployed 139 units across the USA and Europe, with an additional 64 units pending. The company boasts 30 paying customers, including three of the Top 25 Global corporations. Their sales pipeline shows over 350 opportunities, and a new product, 'RAD 3.0,' is set for launch in October 2021, aimed at enhancing sales efficiency.
- RAD has deployed 139 units and has 64 on backorder, totaling over 200 units, a 576% increase compared to 2020.
- RAD's customer base includes 30 paying clients, with ten clients expanding their deployments within the last year.
- A robust sales pipeline of over 350 opportunities suggests significant future growth potential.
- None.
AITX and RAD CEO
“To support our corporate policy of being
Presently, RAD has 65 employees assigned to seven departments (sales, marketing, hardware development, software development, production, client services, and administration) and expects to continue to add qualified, motivated talent to these teams. All administration, production and some research and development staff are located at the
The company reports that as of
Regarding the company’s customer base, RAD has 30 paying customers that represent 39 distinct end users. Three of RAD’s end user clients are Top 25 Global corporations, ranked by revenue. One of these three prominent companies has completed several reorders, with one recent reorder that has yet to be fulfilled. A total of ten paying clients have expanded their deployments with at least one reorder over the past 12 months. “Our future growth will come from a relentless pursuit of great clients, and expanding that business as we have through end-users that reorder RAD devices,” Reinharz added. “I’m pleased with the number of clients expanding their systems and excited for all the potential expansion we are working towards.”
RAD’s sales pipeline includes over 350 distinct opportunities that are in Stage 5 of RAD’s “Sales State Definitions,” meaning that RAD has customized a proposal that is based on specific customer needs and illustrates the potential return on investment (ROI) to the customer. These opportunities, if realized, have the potential to represent thousands of unit orders.
RAD’s sales and distribution channel is supported in part by 25 authorized dealers that actively present RAD solutions to their end user customers. Although RAD’s sales cycle typically ranges from 6–18 months, the company is deploying a variety of methods to shorten this sales cycle. The planned launch of the ‘RAD 3.0’ devices in
The company also confirmed that RAD has 10 product names and slogans under review at the United States Patent and Trademark Office (USPTO) and anticipates making another 15-20 similar filings by the end of
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.
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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
About
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
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FAQ
What are the key metrics released by AITX in its latest PR?
When is the launch date for RAD 3.0?
How much has RAD's unit deployment increased compared to last year?
How many sales opportunities does RAD currently have?
What types of organizations are included in RAD's customer base?
