Robotic Assistance Devices Announces Second “Wally” Order from Fortune 500 Company Adds ‘Top Four’ Global Security Guard Company to Dealer Network Raises Financial Guidance
HENDERSON, Nevada, August 28, 2020 — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices (RAD) has received a second order from a Fortune 500 customer for a Wally with Health Screening Option (HSO) autonomous security device. In addition, RAD has added another ’Top Four’ global security guard company to its dealer network.
As a result of these and other developments, RAD is now raising guidance issued on August 3, 2020.
HSO is an exclusive RAD platform that pairs a non-touch elevated body temperature measurement with a HIPAA-compliant cloud-storage system.
“The market acceptance for RAD’s Wally HSO continues to build upon our strong sales funnel,” said Steve Reinharz, Founder and CEO of RAD. “The addition of one of the nation’s top guarding companies to our dealer network is very exciting. Consequently, in a matter of a little over three weeks, we now expect to outperform the 100% increase in revenue projected on August 3.”
KTLA5/NBC recently covered RAD’s innovative face mask analytic. https://vimeo.com/447062473 The story was syndicated by 13 additional stations across the United States.
RAD has a sales pipeline of over 35 Fortune 500 companies and numerous other potential clients. RAD expects to continue to attract new business as it converts its existing sales pipeline into paying customers. Each new Fortune 500 Customer has the potential of making numerous reorders over time.
The company may post important information about its subsidiary RAD on its website at www.radsecurity.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.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.
