Artificial Intelligence Techno Stock Price, News & Analysis

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.

Artificial Intelligence Technology Solutions (AITX) shared updates on its path to profitability during a recent town hall meeting led by CEO Steve Reinharz. The company has implemented cost-saving measures expected to save over $100,000 monthly, potentially reaching $200,000. Key actions include terminating non-core projects, reducing team size from 90 to 82, and enhancing operational efficiency. The CEO highlighted a positive market response and a robust sales funnel, projecting possible monthly profitability within 9 to 15 months, with aims for positive cash flow by December 31, 2024. However, no guarantees of these outcomes were provided.

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), has received over 700 enclosures for its popular security robot, ROSA, at its Detroit facility. Following a surge in sales, AITX's CEO, Steve Reinharz, noted the decision to order enclosures was strategic as RAD expands its product line with three new solutions: RIO, RIO Mini, and ROSA-P. RAD's cost-cutting measures have resulted in ROSA unit costs being halved due to bulk purchases. The company aims to streamline operations and enhance manufacturing capabilities while maintaining a strong sales pipeline with over 35 Fortune 500 clients.

Artificial Intelligence Technology Solutions (AITX) has announced the appointment of Steve Reinharz to the board of directors for the Security Industry Association (SIA). This two-year term aims to support the SIA's mission to enhance success within the global security industry. Reinharz expressed gratitude for the appointment, aligning with RAD's vision of an AI-driven security sector. AITX, via its subsidiary Robotic Assistance Devices (RAD), is disrupting the $25 billion security industry by offering AI-driven solutions that can reduce security costs by 35%-80%. The company has a strong sales pipeline with over 35 Fortune 500 companies.

Detroit, Michigan, March 29, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions (AITX) and its subsidiary, Robotic Assistance Devices (RAD), partnered with ECAMSECURE, a GardaWorld company, to showcase the Virtual Gate Guard™ at ISC West 2023 in Las Vegas.

RAD's CEO, Steve Reinharz, expressed excitement about collaborating with ECAMSECURE, a leader in portable security systems. The Virtual Gate Guard enhances security and reduces costs compared to traditional guards. ISC West expects over 30,000 attendees and 1,000 exhibitors, highlighting RAD's presence.

With features like 180° vision and advanced access control, the unit targets logistics, storage, and corporate sectors.

Detroit, Michigan, March 27, 2023 - Artificial Intelligence Technology Solutions announced the deployment of RAD's ROSS software at The Rosenbaum Yeshiva of North Jersey, enabling existing legacy security cameras to utilize advanced AI analytics. Four RAD ROSA units will complement the system, enhancing security with features like firearm, human, and vehicle detection.

The ROSS solution is priced at approximately $10 per channel per month, making it accessible for various facilities. RAD aims to redefine security services, targeting significant cost savings of 35%-80% compared to traditional methods. A growing sales pipeline includes over 35 Fortune 500 companies.

Artificial Intelligence Technology Solutions (AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), has secured a contract with HPS, benefiting over 4,300 members across 33 states. This contract allows members to enhance safety and security through RAD's AI-powered security robots, offering potential savings of up to 80% on security expenses. AITX is redefining the $25 billion security industry with its Solutions-as-a-Service model, aiming at a cost reduction of 35%-80% compared to traditional security methods. RAD also has a sales pipeline including 35 Fortune 500 companies, indicating promising revenue potential.