Reno, Nev., Jan. 29, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Artificial Intelligence Technology Solutions, Inc., (AITX: OTCPK) is pleased to announce that Robotic Assistance Devices (RAD), its wholly owned subsidiary, has received a purchase order from a major global pharmaceutical company.
“This first deployment for this Fortune 50 company could be their first of many,” said Steve Reinharz, President and CEO of RAD. “This is a new major vertical for the company as we continue to penetrate the market.”
“The ability of RAD to be able to consistently attract these major corporate clients is a sign of the value that RAD’s technology offers to the market,” said Garett Parsons, President and CEO of AITX. “Each of these large clients has the potential for numerous deployments so each time RAD closes on a large client, it is also closing on the potential for numerous re-orders for years to come.”
This unit will be added to the growing number of paid deployments in the greater San Francisco Bay area. RAD currently has paid deployments in 11 states and growing.
Adoption of this solution could save the client 75% of the expense of alternative solutions while providing superior performance. The company is finalizing contract details with the potential client and expects to get final contract documents this month.
The company may post important information about its subsidiary RAD on its website at www.RoboticAssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://.com/SteveReinharz).
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the "Company"). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. As such, there are no assurances whatsoever that the Company will meet its expectations with respect to its future revenues, sales volume, recurring monthly revenue growth, and operational cash flow positivity. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price.
For purposes of the Company's disclosures, "Artificial Intelligence" refers to machine-based systems designed to operate with varying levels of autonomy that, for a given set of human defined objectives, can make predictions, recommendations, or decisions influencing real or virtual environments. In the context of the Company's business, Artificial Intelligence is deployed primarily within the security services and property management industries to support functions such as detection, analysis, prioritization, communication, and response related to safety, security, and operational events.
The Company delivers these capabilities principally through its SARA™ (Speaking Autonomous Responsive Agent) platform, which serves as the Company's primary agentic artificial intelligence system. SARA is designed to receive and process video, audio, and other sensor data, apply automated analysis and inference, and support actions in accordance with predefined operational objectives and human oversight.
Further note that the Company's Board of Directors oversees the Company's deployment of Artificial Intelligence.
