Henderson, Nevada, March 24, 2021 — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices (RAD) has entered into an agreement with EAGL Technology, Inc. to offer EAGL’s Gunshot Detection System (GDS) in all present and foreseeable future RAD devices.
EAGL Technology was established in 2015 after acquiring gunshot ballistic science developed by the Department of Energy (DOE) Pacific Northwest National Laboratory (PNNL). EAGL has advanced this technology by creating a state-of-the-art security system. The EAGL product offering utilizes the company’s patented FireFly® Ballistic Sensor technology which RAD will offer, as an integrated option, on all mobile and stationary security solutions. EAGL clients include Honeywell, Johnson Controls, Siemens and many more.
“We are honored that RAD will be integrating EAGL solutions into their innovative offerings,” said Jennifer Russell, Senior VP of Security Technology at EAGL Technology, Inc. “There are such great synergies in supporting RAD, the markets that they serve, and our GDS solutions.”
A Gunshot Detection System is defined as a system that can recognize as well as identify the location of gunfire or other weapon fire. This detection can be done using an array of acoustic sensors. Gunshot detection systems can be utilized for various applications such as for security agencies, the military, and law enforcement to pinpoint the direction of gunfire, the source and in some occasions the kind of weapon used. According to Verified Market Research, the global Gunshot Detection Systems market was valued at $1.41 billion in 2019 and is projected to reach $8 billion by 2027, growing at a CAGR of 26.18% from 2020 to 2027.
“RAD prospects have driven the need to add this important technology to the RAD lineup,” said Steve Reinharz, RAD President. “We’ve been evaluating EAGL for almost two years and we are thrilled to bring this full integration to our dealer channel.”
According to Gun Violence Archive, there were 417 mass shootings in 2019, making it the worst year on record for this type of attack. “We have been receiving repeated requests that gunshot detection capabilities be built into RAD devices from industries as varied as transit operators, retail property managers, and law enforcement. Integrating EAGL’s technology into RAD’s autonomous response solutions should be well received by all of the markets we serve,” Reinharz concluded.
The company indicated that EAGL’s GDS technology would be an option that includes both additional hardware and analytic software on all RAD devices. Pricing was not released at the time of this announcement.
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 of design elements, performance, quality and the user’s experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, or ROAMEO™. 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, 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.
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 and RAD-M 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 and www.radsecurity.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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Investor Relations Contact
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Steve Reinharz
949-636-7060