Artificial Intelligence Technology Solutions, Inc.
Detroit, Michigan, Nov. 15, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., (the Company) (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has received an order for 2 ROAMEO mobile security robots. This order, a capital purchase facilitated through one of RAD’s largest authorized dealers, will see one ROAMEO deployed at the major utility company’s corporate offices, and the other at one of their field locations. This client recently placed an order for an AVA access control robot that was announced via press release on November 3, 2022.
The Company expects to publicly announce the end user in the near future as the client has expressed support for this to be made public.
“This is the precise application ROAMEO was developed to execute,” said Mark Folmer, President of RAD. “Power companies typically have large utility yards to patrol, often with open fields and rough, unpaved roads. No other mobile security robot can autonomously patrol these tough terrain properties.”
RAD confirmed that these will be next generation ROAMEO 3.0 units and be deployed in the summer of 2023. ROAMEO 3.0 builds upon the thousands of hours of field deployments for ROAMEO 2.0, with upgrades including greater speed and mobility, lower production costs, faster production time , and powered by RAD-G‘s RADPack.
“Once again RAD’s largest dealer delivers high revenue business from a Fortune 500 listed client,” commented Steve Reinharz, CEO of AITX and RAD. “The cost to have human security guards patrol these utility properties has skyrocketed, and that’s if you can find the manpower to fill the undesirable job. It’s only inevitable that ROAMEO, with the power of RAD, be assigned these post orders.”
ROAMEO is a mobile security robot that is nearly 7 ft. tall and weighs over 700 lbs. ROAMEO is built to autonomously patrol a property or periphery and survey its surroundings, conducting routine patrols, recording, and reporting back to the central command center. The security robot’s dual 18.5” web-connected touch screens provide customizable information and concierge services for guests that it may encounter while on patrol.
RAD has a sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.
RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user’s experience of all security robots whether, ROSA™AVA™ROAMEO™RADDOG™RIO™RAD Light My Way™, or TOM. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifestoand request a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, stevereinharz.com, www.radsecurity.com, radgroup.aiand www.radlightmyway.comor follow Steve Reinharz on Twitter @SteveReinharz.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are “forward-looking statements” that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. No information contained in this news release should be construed as any indication whatsoever of the Company’s future stock price, revenues, or results of operations. Additionally, any industry data provided herein is of no predictive value regarding the future sale of the Company’s products. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.