Detroit, Michigan, July 23, 2024
Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), is thrilled to announce the imminent expansion of a substantial nationwide deployment. RAD is gearing up to build an additional 57 RIO™ units, reflecting the strong demand and commitment from this highly esteemed Fortune 50 client.
This move comes as RAD was instructed to begin production of 57 RIO towers by the client, who has indicated the purchase orders will be imminent.
Steve Reinharz, CEO/CTO of AITX and RAD, commented, “We have been anticipating this order for quite some time, and it’s this type of substantial opportunity that drives us towards achieving our long-term goals. These strategic deployments are key to pushing RAD towards becoming cash flow positive this fiscal year and potentially ensuring sustained growth in the future. We appreciate the continued support and confidence of our respected client.”
The Company noted that this one expansion order from this single client is expected to deliver over $90K in recurring monthly revenue (RMR) plus over $17K per month in remote monitoring revenue.
Mark Folmer, CPP, PSP, FSyI, President of RAD, added, “The power of our expansion business lies in our ability to serve large national corporations with multiple locations and properties to secure. RAD rarely sells a single unit, instead, we provide comprehensive security solutions that scale with our clients’ needs.”
RMR is money earned from customers who pay for a subscription to a service or product. RAD’s solutions are generally offered as a recurring monthly subscription, typically with a minimum 12-month subscription contract.
Sitting atop a standard RIO configuration are dual ROSA™ units. ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be installed and activated in about 15 minutes. ROSA’s AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous response library. Two-way communication is optimized for cellular, including live video from ROSA’s high-resolution, full-color, always-on cameras. RAD has published six Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at retail centers, hospital campuses, multi-family communities, car rental locations and construction sites across the country.
AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house.
RAD has a prospective 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.
