Detroit, Michigan, May 8, 2023 — Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions along with its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), today announced that it has received an order for 2 ROSA™ security robots from a major US regional banking group. The banking group has more than 1,000 branches with over $150 billion in assets. This client marks RAD’s initial deployment servicing the banking and financial market sector.
The initial 2 ROSA security devices will be deployed at 2 of the bank’s urban branches in the Midwest. The ROSAs will be positioned adjacent to the bank’s exterior ATM machines acting as a force-multiplier to the bank’s existing security program.
“Banks, like most other enterprise clients are faced with the dilemma of having to provide security but not being able to afford a guarding staff, while still relying on legacy security systems, like unmonitored cameras,” stated Mark Folmer, CPP, PSP, FSyI, President of RAD. “ROSA fills that void perfectly, now providing that extra advantage of being able to detect – and deter potentially dangerous and costly situations.”
According to a study published by Pinkerton, there are approximately 400,000 ATMs in the U.S. Despite their convenience, ATMs expose bank customers to a heightened risk of victimization and create a new dimension of risk to be considered by financial institutions. ATM crimes in the U.S. increased 600% from 2019 to 2020. The three common types of crime related to ATMs involve physical attacks on machines, card skimming devices added on to the machines to steal customer information, and personal assault at the machines.
“RAD continues to penetrate new vertical markets,” said Steve Reinharz, CEO of AITX and RAD. “I anticipate that this deployment is just the beginning of wide acceptance of our innovative solutions in the financial sector.”
The Company has published detailed demonstrations of the ROSA solution securing bank ATMs. The Company also noted that the 2 ROSA units are expected to be deployed and activated in June 2023.
ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be installed and activated in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary communications hardware. 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 dual high-resolution, full-color, always-on cameras. RAD has published three Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at car rental locations and construction sites across the country.
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.
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. 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. The reference to the $25 billion (US) security and guarding services industry as presented above is of no predictive value regarding our future results of operations. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, www.stevereinharz.com, www.radsecurity.com, www.radgroup.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.