New Residential Security Solution to be Built Upon Proven RAD Technology Expects Q4 Deliveries
Detroit, Michigan, May 17, 2022 — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) expects to launch a product into the rapidly expanding residential security market that is based around its best-selling ROSA solution.
AITX indicated that the development project will utilize technology from its wholly owned subsidiary Robotic Assistance Devices Group (RAD-G), specifically ‘RADPACK-mini’ which controls the device’s power, communications, peripherals and handles much of its analytic processing. The second critical component of the upcoming residential solution is ‘RADCam’, RAD’s integrated camera that features sufficient processing power to drive complex AI analytics.
“We have been working toward this announcement for quite some time,” said Steve Reinharz, CEO of AITX. “The consumer market is hungry for the next wave of home security solutions, and RAD will be ready to deliver. The consumer has been led to believe that existing home security cameras are part of a ‘smart home’. Just wait until they see what a RAD home system can do. We are going to redefine the word ‘smart’.”
According to a recent study published by Global Industry Analysts Inc., the home security systems market in the US is estimated at $17.6 Billion in 2022.
The Company also confirmed that initial production will be in Q4 of this year, with a limited launch of between 1,000 to 2,500 units expected. Pricing, distribution, and other details to be announced at a later date.
“I also expect that we will adapt other devices from our commercial safety and security line to residential use over the next couple of years”, Reinharz concluded.
RAD’s parent company AITX intends to file for listing on the OTCQB within 10 days of filing its YE2022 10-K which is expected in May.
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 SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, ROAMEO™, or RAD Light My Way™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
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. 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.
