Artificial Intelligence Techno Stock Price, News & Analysis

Artificial Intelligence Technology Solutions (OTCPK: AITX) reported that its subsidiary, Robotic Assistance Devices (RAD), secured over 300 device orders as its fiscal year ends on February 28, 2023. This marks a significant increase from 187 orders in FY 2022. CEO Steve Reinharz expressed optimism for FY 2024, citing improvements in technology and sales techniques. RAD is well-positioned with a sales pipeline of over 35 Fortune 500 companies and aims to convert existing sales opportunities into recurring revenue streams, indicating a robust growth trajectory for the company.

Artificial Intelligence Technology Solutions (OTCPK:AITX) announced an update on its subsidiary, Robotic Assistance Devices (RAD), revealing a buoyant sales pipeline as the fiscal year 2024 commences. CEO Steve Reinharz mentioned expectations to book over 300 units before February 28, 2023, marking a 60% increase from FY 2022's 187 orders. The expansion includes new orders from GXO, a major logistics provider, and new dealer partnerships, increasing RAD's dealer network to 57. Notably, RAD is targeting diverse sectors, indicating robust market penetration.

Artificial Intelligence Technology Solutions (AITX) has announced its largest hospital deployment of ROSA-P units at a 100+ bed acute care facility. This installation includes 9 ROSA units and highlights RAD's growing footprint in the healthcare sector. Hospital staff opted for ROSA units over armed guards for enhanced safety, emphasizing the significance of RAD Light My Way in increasing security consciousness. The company is in talks with six more healthcare networks, potentially expanding its reach to over 500,000 employees. AITX aims to deploy 150 devices in healthcare within the next year, illustrating a robust growth strategy in this lucrative market.

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced media outreach by CEO Steve Reinharz. The first event is a webinar on February 3, 2023, discussing naked short selling, which is illegal but prevalent. Reinharz aims to enhance transparency and shareholder value. The second event is an ‘Ask Me Anything’ session on February 5, 2023, aimed at engaging the AITX community. AITX, through its subsidiary Robotic Assistance Devices (RAD), offers AI-driven security solutions promising 35%-80% cost savings compared to traditional security methods and has a sales pipeline of over 35 Fortune 500 companies.

Artificial Intelligence Technology Solutions (AITX) announced price changes for its Robotic Assistance Devices (RAD) solutions, effective March 1, 2023. Price hikes range from 18% to 29% for three offerings, while one will see a 17% decrease. The company believes that these adjustments will enhance revenue and meet fiscal year 2024 goals despite anticipated inflationary pressures.

AITX aims to maintain a competitive edge against traditional security solutions, thanks to significant cost advantages. The company's innovations promise cost savings of 35%-80% for clients. AITX also holds a promising sales pipeline with over 35 Fortune 500 companies.

Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX), a leader in AI-driven security solutions, announced its support for a collaboration between ASIS International and Circadian Risk, Inc. to implement a Physical Asset Protection Standard as a SaaS-based assessment. This initiative aims to enhance security protocols and leverage AI in risk management. AITX's subsidiary, Robotic Assistance Devices (RAD), has invested in Circadian Risk, indicating potential partnerships. RAD’s solutions offer cost savings of 35%-80% compared to traditional manned security, with a sales pipeline that includes over 35 Fortune 500 companies.

Artificial Intelligence Technology Solutions (AITX) announced an extension of its ‘Bailey’s Gift’ campaign, named after the victims of the 2018 Marshall County shooting. RAD will donate at least five ROSS AI-based security solutions to K-12 schools nationwide, improving security measures against firearms. ROSS connects legacy cameras with advanced AI analytics, enhancing detection capabilities for potential threats. RAD aims to address the needs of over 100,000 schools. This initiative reflects RAD’s commitment to enhancing school safety through technology.

Artificial Intelligence Technology Solutions (OTCPK: AITX) reported a significant 50% increase in Q3 revenue from $267,484 to $402,399 quarter-over-quarter. The gross margin improved from 50% to 57%, attributed to enhanced supply chain processes. Forecasts for FY 2024 suggest $800,000 in monthly recurring revenue by February, potentially achieving positive cash flow. Operating expenses decreased by 9% to $3.09 million in Q3, but are expected to rise due to upcoming project developments. The firm has around 300 units deployed with an additional 290 on backorder. AITX aims for 75% gross profit margin by the end of FY 2024.

Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced a strategic investment in Circadian Risk, Inc., enhancing its offerings in risk assessment software for security professionals. The investment is structured as a SAFE, allowing AITX to acquire equity in the future. AITX CEO Steve Reinharz emphasized the potential for collaboration and innovation in security solutions, while Circadian Risk's CEO highlighted a mutual drive to disrupt traditional security approaches. AITX, through its subsidiary Robotic Assistance Devices (RAD), aims to redefine the $25 billion security industry by offering AI-driven solutions that significantly reduce costs.