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Artificial Intelligence Technology Solutions, Inc. develops AI-driven security and productivity solutions through subsidiaries including Robotic Assistance Devices, Inc. The company’s updates commonly cover autonomous security devices such as RIO, RIO Mini, ROSA, AVA, ROAMEO, RADCam and related platforms, along with SARA, its Speaking Autonomous Responsive Agent software.
AITX news frequently addresses customer deployments, product demonstrations, industry conferences, recurring monthly revenue, enterprise sales activity and financial reporting. Reported end markets include construction, data centers, hospitality, government, transportation, critical infrastructure, education, healthcare and residential security.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced the launch of RADCON 2021, its first global sales and marketing conference, at the RAD Excellence Center in Detroit. CEO Steve Reinharz emphasized the significance of this event, noting RAD's exponential growth during a 15-month remote operation. The recently operational REX manufacturing plant will enhance production capabilities. The conference will focus on strategies to achieve their 'Road to 500' goal, aiming for 500 unit deployments by March next year.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announces the development of RADCore, a new Compute & Control hardware controller by its subsidiary, Robotic Assistance Devices Group, Inc. This innovation aims to reduce costs and enhance production, service, and implementation times. The RADCore will replace multiple processors in RAD devices, starting with the ROSA270. CEO Steve Reinharz states RADCore marks a significant step towards creating new revenue streams and advancing their offerings in the $50 billion US security market.
Artificial Intelligence Technology Solutions announced the resignation of Garett Parsons from its Board of Directors, effective June 22, 2021, due to personal health reasons. The company will provide additional details in a related 8-K filing. CEO Steve Reinharz expressed well wishes for Parsons' recovery and future endeavors. The announcement signals a potential leadership shift, which might affect company strategy and operations as AITX continues to deliver AI-based solutions across various industries.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), has signed L&P Global Security as an authorized dealer. L&P Global Security, a premier security guard service in Texas, will represent RAD's security robot solutions. They plan to deploy RAD's ROSA unit at a major retailer in Texas, addressing client needs for automated security solutions that reduce costs. The collaboration is expected to lead to hundreds of deployments in Texas due to increasing demand for innovative security alternatives.
Robotic Assistance Devices (RAD) has appointed Artur Tchoukanov as its new Industrial Designer. Tchoukanov brings 18 years of experience, having previously worked for notable firms like Pininfarina and collaborated with major brands such as Cisco and Philips Lighting. His hiring marks a significant milestone as RAD aims to redefine its product design in what the company terms RAD 3.0, promising innovative, world-class designs. Tchoukanov expressed enthusiasm about contributing to RAD's future, aligning with RAD's vision to enhance security solutions through advanced robotics.
Artificial Intelligence Technology Solutions (OTCPK:AITX) announced new orders for its ROSA security units, with one unit to be deployed at a national grocery distributor and another for a leading East Coast security firm. Since March 1, 2021, RAD has received a total of 60 units on order, anticipating a significant revenue increase, projecting a run rate 5 to 20 times larger than the previous fiscal year. RAD's COO noted the company's expanding dealer network and product offerings, highlighting the effectiveness of ROSA units in addressing security challenges.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) has released its 10-K for the fiscal year ending February 28, 2021, reporting substantial growth and a stronger financial position. Key highlights include a notable reduction in derivative liabilities from $9.5 million to $943,000, and a strategic debt exchange leading to improved terms, with reduced interest rates and eliminated derivative liabilities. The company anticipates a significant increase in recurring monthly revenue by 5-20 times compared to the previous year. They plan to release a quarterly report soon, showcasing further financial progress.
Artificial Intelligence Technology Solutions (OTCPK:AITX) announced new orders for Robotic Assistance Devices (RAD) products, including 7 ROSA and 2 Wally units. The Wally units will enhance security for an existing client in Europe, expanding their deployment to 3 devices. Additionally, 4 ROSA units are repeat orders from a construction industry client, while 3 units will be used in a retail shopping center. RAD has also onboarded 2 new authorized dealers, facilitating expansion into new markets.
Artificial Intelligence Technology Solutions (OTCPK:AITX) announced a Wally order from a Fortune 250 company, enhancing its presence in the security automation market. Wally, designed to replace traditional security guards, offers functionalities like visitor processing and monitoring at a reduced cost. The client plans additional deployments, potentially exceeding 50 units. The integration of advanced robotics aims to boost productivity while cutting costs, as highlighted by a McKinsey report indicating that 45% of paid activities can be automated, representing a $2 trillion opportunity.
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) has announced the launch of ROSA270, enhancing its ROSA product family. This innovative solution, shipping from June 2021, features a new 90° viewing capability through an additional camera, totaling three high-resolution cameras for better surveillance. ROSA270 can be deployed quickly, offers AI-driven analytics for security, and provides two-way communication. RAD aims to improve customer security while reducing costs, demonstrating their commitment to continuous enhancement and customer feedback.