Detroit, Michigan, June 14, 2022
Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received an order for 5 security robots from a top ranked global logistics company. The deal is valued in the low six figures plus monthly costs after a set period of time.
Although not named due to confidentiality agreements, the Company indicated that the end-user, and existing client, is a global leader in supply chain management & third-party logistics.
The Company confirmed that the 4 AVA autonomous access control security robots and 1 TOM visitor management device are expected to be deployed in July at one of the client’s logistics centers. “We appreciate every client, but this one client means so much to us,” said Steve Reinharz, CEO of AITX. “They’re a Fortune 500 company that is continually overhauling how they handle their access control and property security. RAD has a huge deployment with this client, and we’re very grateful,” Reinharz continued.
“Supporting this great client as they roll RAD’s solutions out to more and more of their over 200 facilities has been a pleasure,” said Mark Folmer, President of RAD. “I think we’ll hit 50 deployed units with them soon and hopefully 100 in the not too distant future!”
The Company also confirmed that with the order for these 5 RAD devices brings the client’s total units deployed and/or on order to 39. “The logistics industry views our client as a market leader, and this client routinely selects RAD. It’s great to be associated with them,” Reinharz concluded.
The Company expects to receive permission from this client to share its name and RAD device use cases and applications in the near future.
According to a recent report by Allied Market Research, the global logistics automation industry was pegged at $49.70 billion in 2020, and is expected to reach $147.38 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030. The report mentions that “several logistics companies have started to invest in industry 4.0 technologies in order to deal with labor shortages issue, and to fulfill rising demand from e-commerce sector. Companies are adopting autonomous robots.”
RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
AVA (Autonomous Verified Access) is a compact and stanchion mountable unit that provides an edge-to-edge 180° field of vision with advanced access control over gates and other controlled points of entry. AVA takes full advantage of the RAD Software Suite providing an ideal solution for logistics and distribution centers, storage yards, parking structures and lots, corporate campuses; anywhere that increased visibility is needed at a fraction of the cost. At ISC West in late March, AVA was named a winner of the 2022 SIA New Products and Solutions Awards in the category of Access Control Software, Hardware, Devices and Peripherals.
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, and request a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.
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.
