Artificial Intelligence Techno Stock Price, News & Analysis

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.

Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has announced enhancements to its firearm detection AI analytics. These updates will improve performance and reliability by incorporating features like Double Authentication to reduce false positives.

The upgraded system will be available in RAD's security devices such as ROSA, RIO, AVA, and RADDOG starting June 2024. The new analytic will be an additional revenue stream for the company.

RAD's devices use both edge and cloud-based technology to detect firearms. When a potential threat is identified, the system sends captured images to the cloud for verification, triggering alerts if confirmed. RAD aims to increase public safety by reducing false alarms and improving response times.

The enhancements are expected to offer significant cost savings, between 35%-80%, compared to traditional manned security models. RAD's technologies are developed in-house and aim to redefine the $25 billion security and guarding services industry.

AITX has announced AIR™ (Autonomous Intelligent Response) as the core of its operations, integrating advanced AI and autonomous response capabilities. AIR aims to enhance security and facility management efficiency by automating responses without human intervention. The platform will be integrated with AITX's subsidiary, Robotic Assistance Devices' (RAD) 4th Generation products, and will be the foundation for RADCam™ available later this year. This move aligns with AITX's commitment to innovation and aims to transform the $25 billion security industry by offering cost savings of 35%-80% compared to traditional security models. Applications for the RADCam pilot program will be announced soon.

Artificial Intelligence Technology Solutions (AITX) has unveiled its latest innovation, Autonomous Intelligent Response (AIR), a groundbreaking technology that enhances the company's Autonomous Remote Services (ARS) by integrating intelligent, human-like responses in surveillance cameras and RAD devices.

AIR autonomously monitors environments, detects anomalies, and responds to threats, reducing the reliance on human resources and lowering operational costs. It will be available in Generation 4 RAD devices and RADCam from RAD-R, aiming to transform the security industry with rapid response capabilities, real-time alerts, and continuous protection.

The company plans initial demonstrations of AIR on its YouTube channel in the coming weeks, marking a significant milestone for corporate security and facility management.

Doyle Security Services (Doyle) has expanded its deployment of Robotic Assistance Devices' (RAD) ROSA™ security robots for a major retail center operator facing issues like trespassing and illegal dumping. Traditional security measures were inadequate, and staffing challenges further exacerbated the problem. ROSA devices, equipped with advanced AI and autonomous response capabilities, have proven effective in deterring these activities. They integrate with Doyle's Security Operations Center (SOC) for continuous oversight, reducing the need for physical guards. This expansion aims to enhance safety and operational efficiency.

Mark Folmer, President of RAD, praised the collaboration with Doyle as a benchmark in the industry. ROSA is a multiple award-winning solution with features like human and vehicle detection, responsive signage, and two-way communication. RAD has demonstrated significant cost savings of 35%-80% compared to traditional manned security and is redefining the $25 billion security services industry. The company has a sales pipeline involving over 35 Fortune 500 companies.

AITX released its FY2024 financial results, showing an impressive growth in recurring monthly revenue (RMR) by 505%, reaching $283,624. Gross profit increased by 68% to $1,096,457, with a significant deployment of 104 units in Q4 FY2024. RIO product contributed $143,686 in RMR. R&D expenses decreased in FY2024. AITX is poised for a promising FY2025 with plans to become cash flow positive.

Robotic Assistance Devices, Inc. (RAD) announces a strategic partnership with Nightingale Security Inc. to expand market reach using autonomous drone technology. This collaboration aims to capture opportunities across Africa, Europe, Australia, and Latin America in sectors like mining, oil and gas, critical infrastructure, and defense. The partnership seeks to provide low-cost, active patrols and responses for large remote areas where traditional security is difficult. AITX is optimistic about international growth prospects and the potential impact on security standards worldwide.