Artificial Intelligence Techno Stock Price, News & Analysis

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has secured an order for six RIO units from a new dealer. These units will be deployed at decommissioned schools in California to enhance security and monitoring. The RIO units, equipped with dual ROSA units, offer solar-powered, autonomous surveillance and threat detection. RAD's technology aims to address security challenges in abandoned properties, leveraging AI-driven analytics for human, vehicle, and firearm detection, as well as license plate recognition and real-time communication. This deployment highlights RAD's innovative approach to security, which can significantly reduce costs compared to traditional manned guarding.

Artificial Intelligence Technology Solutions (OTCPK: AITX) and its subsidiary Robotic Assistance Devices (RAD) have announced a 20% growth in their distribution channel partners over the past six months. This expansion includes 14 new strategic partners, enhancing their reach in the US, Canada, and the EU. RAD's flagship product, the ROSA system, which offers a comprehensive AI-driven security solution, has been pivotal in attracting these new partners. RAD's solutions, which promise significant cost savings of 35%-80% compared to traditional manned security, continue to draw interest from major clients, including a sales pipeline with over 35 Fortune 500 companies.

Artificial Intelligence Technology Solutions (AITX) reported a significant financial milestone for Q1 FY 2025, achieving over $1 million in total revenue for the first time. The company recorded $1,098,975 in revenue, a 2.86x increase compared to the previous year’s $384,277. Additionally, AITX saw a 385% YoY rise in recurring monthly revenue (RMR).

CEO Steve Reinharz highlighted strategic investments in sales, support, and development aimed at ensuring operational profitability. The company is also preparing for the launch of its Gen4 solutions and the relaunch of ROAMEO™.

Over $125,000 in RMR is pending deployment, potentially adding $375,000 to quarterly revenue. AITX continues to see strong re-orders from both large and small clients. The company’s AI-driven security solutions, offered as a subscription service, aim to significantly reduce security costs for businesses.

Artificial Intelligence Technology Solutions (OTCPK:AITX) has announced the launch of the Beta Test Program for RADCam, the first home security camera from its subsidiary RAD Residential (RAD-R). RADCam utilizes AITX’s proprietary Autonomous Intelligent Response (AIR™) technology, offering intelligent, human-like responses and real-time monitoring. The Beta Test Program is open to end-users across the U.S., with the aim of refining the product before its official release. The company plans to have RADCam ready for sale by November, to align with the holiday shopping season.

Artificial Intelligence Technology Solutions' (AITX) subsidiary, Robotic Assistance Devices (RAD), has released a case study showcasing the effectiveness of its RIO and ROSA units in enhancing retail center security. The AI-driven devices have achieved a 75% reduction in crime at Midwest retail properties, notably decreasing car break-ins, solicitation, and loitering. The deployment of 7 RAD RIO 360 units and 5 ROSA devices has also led to significant cost savings. RAD’s technology has been widely accepted by property management, tenants, and local law enforcement, with significant positive feedback. This aligns with RAD's goal of providing cost-effective security solutions, reducing the need for human guards, and fostering safer environments.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), successfully deployed four RAD RIO (ROSA Independent Observatory) solar-powered mobile surveillance units at the 2024 CMA Fest in Nashville.

The event, one of the largest country music festivals, saw tens of thousands of attendees. The RAD RIO units provided seamless, real-time surveillance, enhancing security with AI-driven technology that monitored crowd movements, detected unusual activities, and facilitated swift communication with security personnel.

This deployment showcased RAD's ability to offer a cost-effective alternative to traditional security methods, and RAD anticipates further event deployments in the coming months.

RAD solutions, designed to reduce security costs by 35%-80%, include advanced AI analytics and are used in various environments like retail centers and hospital campuses. RAD's prospective sales pipeline includes over 35 Fortune 500 companies.

Artificial Intelligence Technology Solutions (AITX) has made a strategic investment in Nightingale Security, a leader in autonomous aerial security systems.

This investment, structured as a convertible note, enables AITX to support Nightingale’s growth without immediate equity dilution.

Combining AITX's ground-based robots with Nightingale's drones will enhance security solutions for large, remote areas, offering efficient detection, surveillance, and response.

Both companies aim to redefine security standards globally via integrated AI-powered security solutions.

Detroit, Michigan, May 30, 2024 -- Artificial Intelligence Technology Solutions (AITX) subsidiary Robotic Assistance Devices (RAD) has announced it is applying for the SAFETY Act designation from the U.S. Department of Homeland Security for its Firearm Detection software solution. The designation, expected within 2024, would provide RAD with significant legal protections and market expansion opportunities. The software, which integrates with existing security systems, has shown effectiveness in real-world scenarios and aims to challenge the current market leader, ZeroEyes. RAD has engaged a consultant to expedite the application process to meet the highest safety standards. Achieving this designation will enhance RAD's sales efforts and credibility in the security industry.

Artificial Intelligence Technology Solutions (AITX) filed its annual report for FY2024 and a Form S-3 with the SEC, aiming to optimize capital-raising efforts. The company reported significant growth with a 505% increase in Recurring Monthly Revenue (RMR) and a 68% rise in gross profit to $1,096,457. The largest quarterly deployment of 104 units was achieved in Q4 FY2024, marking improved production and supply efficiencies. R&D expenses were reduced from $3,625,468 in FY2023 to $2,878,134 in FY2024. AITX also expanded its team to 97 full-time members. The S-3 filing will allow for better share pricing and less shareholder dilution, attracting long-term investors. AITX aims to become operationally profitable in FY2025 by continuing strategic alliances and innovations in AI-driven security solutions.