Artificial Intelligence Techno Stock Price, News & Analysis

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.

Artificial Intelligence Technology Solutions announced that its subsidiary, Robotic Assistance Devices (RAD), secured 15 new contracts for 42 security robots. The order includes 25 ROSA stationary robots, 10 ROSA-P, 5 AVA access control devices, and 2 TOM visitor management solutions. Notably, 31% of the units are for existing direct end-users, enhancing their deployments. RAD's sales pipeline is strong, with over 35 Fortune 500 companies as potential clients, aiming to convert opportunities into recurring revenue streams.

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced that its subsidiary, Robotic Assistance Devices Inc. (RAD), won a prestigious design competition for its ROSA 3.x security robot. The award, managed by the Chicago Athenaeum Museum, recognizes innovative designs in various industries. CEO Steve Reinharz expressed pride in the recognition, highlighting the robot's blend of aesthetics and functionality. This award may increase industry attention towards the integration of design and technology in security solutions, positioning RAD as a leader in the evolving $25 billion security industry.

Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced significant progress by its subsidiary, Robotic Assistance Devices (RAD), in expanding its sales pipeline and dealer network. RAD has 280 units deployed and 250 on backorder, with a forecast for additional orders between 250 and 500 units in the next six months. With verbal commitments from 38 clients for over 200 devices, RAD expects to close these deals soon. The company also added two new dealers, increasing its total to 54, and aims to expand its development team by 15 members to enhance product offerings.

Artificial Intelligence Technology Solutions (AITX) has filed a Prospectus Supplement with the SEC detailing a $10 million purchase agreement with GHS Investment, LLC. This agreement allows for stock purchases over two years to support the company's growth plans. As of December 5, 2022, AITX's subsidiary, Robotic Assistance Devices (RAD), reported 280 units deployed and anticipates receiving orders for 250-800 additional units in the next year. The company also introduced several new products and aims to expand its workforce to enhance R&D capabilities.

Artificial Intelligence Technology Solutions (AITX) is set to host an Investor Open House and Technology Reveal on December 7, 2022, at its Ferndale, Michigan facility. The event, which is already at capacity for in-person attendees, will be livestreamed on AITX's YouTube channel at 4:30 PM ET. CEO Steve Reinharz will highlight new and enhanced RAD solutions, including RADDOG™, a security robot, and software updates like ROSS. AITX aims to transform the $25 billion security services industry with cost-effective, AI-driven solutions that could save clients 35% to 80% compared to traditional security methods.

Artificial Intelligence Technology Solutions Inc. (AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), won two 2022 AST ‘ASTORS’ Awards.

The awards were for RAD’s Firearm Detection AI analytic in Best Metal/Weapons Detection Solution and RAD Light My Way in Best Alert Notification System. Additionally, AITX's OEM client ECAMSECURE received recognition for its Virtual Gate Guard in Best Access Control & Authentication System category.

These honors highlight RAD's innovative contributions to the security industry, showcasing advancements in access control and safety solutions.