Artificial Intelligence Techno Stock Price, News & Analysis

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced its intention to file a patent application for a new AI-based analytic that enhances vehicle and human tracking. This innovation aims to reduce false-positive alarms in security operations and improve detection capabilities for stolen vehicles. The analytic has been successfully tested at various client locations and will be deployed on 31 ROSA devices. AITX emphasizes its commitment to R&D and plans to build a robust intellectual property portfolio through strategic patent filings. The vehicle tracking feature is customizable for end-users, enhancing the value of RAD's solutions while improving client retention.

With access to a pipeline of over 35 Fortune 500 companies, the company anticipates ongoing business growth and new deployment opportunities.

AITX Reports Strong Initial Deployments of RIO

Artificial Intelligence Technology Solutions (AITX), through its subsidiary RAD, has reported promising results from the deployment of its RIO™ (ROSA Independent Observation) units. Since the product's announcement in September 2022, 25 units have been ordered for immediate deployment, with major client GXO accounting for 10 orders. Currently, five units are fully deployed and additional units are in production.

The company highlights that RIO’s competitive pricing and performance significantly enhance its market position, with plans for future expansion orders totaling 125 units. CEO Steve Reinharz expressed satisfaction with the deployment results and the positive customer feedback. The RIO units utilize solar power and can be installed quickly, further diversifying their application across various locations.

On April 25, 2023, Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced an order for four ROSA security robots from a major U.S. city’s business alliance group. The deployment will occur in a popular outdoor restaurant district, enhancing safety and communication for patrons. These devices are expected to initiate messages when restaurants close, serving as both security and information tools.

RAD's Chief Security Officer, Troy McCanna, anticipates that the initial deployment could expand to as many as 100 ROSA units across other metro areas. Set for activation in early June 2023, this order further supports RAD's mission to offer AI-driven security solutions, aiming to provide up to 80% cost savings compared to traditional manned security. RAD is actively converting a sales pipeline featuring over 35 Fortune 500 companies into recurring revenue streams.

Artificial Intelligence Technology Solutions, Inc. (AITX) announced a significant order of 13 robotic devices from a major client, a Fortune 250 technology supplier. The order includes 11 ROSA security robots and 2 AVA access control units, aimed at enhancing security measures at the client’s large warehouse. The deployment is expected to save the client $400,000 to $600,000 annually in labor costs. All units are set to be delivered by the end of April 2023, with invoicing anticipated in May or June. AITX highlights substantial progress in its partnership with a national dealer, indicating an optimistic outlook for further sales and the potential for nationwide rollouts. The company maintains a robust sales pipeline, targeting over 35 Fortune 500 companies, which could lead to recurring revenue streams.

Artificial Intelligence Technology Solutions (AITX) announced a successful pilot program with a Fortune 100 client for its ROSA security robots. The company expects an initial order of seven robots to enhance security at the client's distribution center, which has over 1,500 retail locations nationwide. This order, facilitated by a major dealer, marks a significant step in AITX's plans to scale operations. The RAD solutions are designed to provide significant cost savings of 35%-80% compared to traditional manned security services. As RAD's potential pipeline includes over 35 Fortune 500 companies, this could lead to recurring revenue and additional orders over time.

Circadian Risk has formed a strategic partnership with Setracon Enterprise Risk Management Services, enhancing their capabilities in enterprise risk analysis. Setracon will implement the Circadian Risk Enhanced Solutions software suite, while its leaders will join Circadian Risk's advisory team. This collaboration aims to improve security assessments through actionable tools, benefiting Setracon's existing clients.

The partnership was facilitated by AITX, with expectations of strong growth in the risk analysis sector. Both companies emphasize using technology to transform risk management. The Enhanced Solutions portfolio enables customizable assessments and real-time risk dashboards, promoting effective communication of risk levels within organizations.