Update on Robotic Assistance Devices Sales Expansion and Activities

Rhea-AI Summary

Artificial Intelligence Technology Solutions (AITX) announced significant updates from its subsidiary, Robotic Assistance Devices (RAD), regarding sales growth and team expansion. The company has entered a Memorandum of Understanding with a major vehicle retailer for deploying security robots, indicating strong market demand. Two ROSA units have been ordered for deployment at a leading online retailer's facility, and a test unit will be introduced at a Fortune 500 company’s distribution center. Additionally, RAD expanded its sales team and development staff to enhance business operations.

Positive

• Entered MOU with a major vehicle retailer for deploying security robots.
• Ordered two ROSA units by a renowned dealer, potentially increasing future orders.
• Secured an order from a Fortune 500 company for a ROSA unit as a test deployment.
• Expanded RAD's sales team to seven members, aiming for increased sales.
• Increased development team size to 75, enhancing technological capabilities.

Negative

• None.

Detroit, Michigan, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices Inc. (RAD) has provided an update to sales activities and sales force expansion.

“We welcome the new calendar year, new team members, new dealers, and of course new sales of RAD solutions. “We’re pleased that the company continues to attract new talent, new channel partners and new business from several of the largest and most admired companies in the world,” said Steve Reinharz, CEO of AITX and RAD. “2022 is certainly starting with a bang for RAD, and we’re excited to share progress throughout the year.”

RAD has entered into a Memorandum of Understanding (MOU) with one of the nation’s largest vehicle retailers an initial deployment of 1 ROAMEO mobile security robot and 1 ROSA unit. Additional details will be released in the future. “This is a big piece of news I’m excited to share. It has tremendous potential,” commented Reinharz.

The company identified additional recent developments of significance.

• 2 ROSA units have been ordered through one of RAD’s most renowned dealers. These units will be deployed at one of the world’s largest online retailer’s regional offices to supplement their existing security staff. It is anticipated that these first two units will lead to many more.
  
  
• A Fortune 500, global consumer products manufacture that has some of the most popular brands has ordered a ROSA unit which will be deployed at one of their US distribution centers. This is a test unit and will open a significant new market upon success.
  
  
• Teachout Security Solutions a nationwide provider of security services headquartered in Flint, Michigan has signed as an authorized RAD dealer. Teachout Security Solutions has placed an order for one Wally HSO solution which will eventually be deployed at one of their healthcare clients to assist staff with temperature checks and other required health screening processes.
  
  
• The addition of 3 members to RAD’s sales team, bringing the company’s total business development group to 7 members. “This incredibly talented group is expected to further expand as we continue to staff up, driving significant increases in sales,” Reinharz commented.
  
  
• The expansion of RAD’s software and hardware development team, pushing the total headcount to 75.
  

“The team is kicking this year off strong,” said Mark Folmer, RAD President. “As I always say: best to get on a lead on the year if you’re going to blow out your targets!”

Additional details will be shared in the coming weeks and months.

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 design elements, performance, quality, and the user’s experience of all security robots whether SCOT^™, ROSA^™, 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, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

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Steve Reinharz
949-636-7060
@SteveReinharz

FAQ

What recent sales updates did AITX announce?

AITX reported new sales activities and team expansion at its subsidiary RAD, including a MOU with a leading vehicle retailer.

How many units has RAD ordered for deployment?

RAD has ordered two ROSA units for deployment at a significant online retailer's facility and one ROSA test unit for a Fortune 500 company.

What did AITX say about its sales team expansion?

AITX announced the addition of three members to RAD's sales team, bringing the total to seven, enhancing sales capabilities.

What is AITX's plan for future updates?

AITX plans to share additional details regarding sales activities and developments in the coming weeks and months.