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 a significant order from a major dealer of its subsidiary, Robotic Assistance Devices (RAD), for five units of RAD solutions. These autonomous security systems will be deployed for a Fortune 500 client with over 10 distribution centers in the U.S. and Puerto Rico. The deal, expected to save hundreds of thousands of dollars compared to legacy solutions, has been in the works for nearly 18 months. Contracts are anticipated by year-end, with implementation set for Q1 2021.
Artificial Intelligence Technology Solutions (OTCPK:AITX) has announced a partnership with Civitas PSG, a major security firm in Romania, to integrate RAD’s autonomous security solutions into Civitas's service offerings. The agreement encompasses all RAD devices, including the mobile ROAMEO robot and the Wally HSO, which supports health monitoring and compliance. This collaboration is part of AITX's strategic expansion into the European market, which is expected to significantly contribute to RAD’s financial success.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced the restructuring of 85% of its debt, converting convertible debentures into non-convertible notes, enhancing financial stability and reducing dilution. The total restructured amount is $7,141,110, now consisting of non-convertible promissory notes with a 36-month maturity and 12% annual interest. AITX aims to redefine the $25 billion security industry with AI-driven services, promising businesses savings of 35%-80% compared to traditional security models. AITX is poised for future growth with additional financing plans.