AITX’s RAD Receives Anticipated Purchase Orders for 53 RIO Units

Deployments to Begin this Month

Detroit, Michigan, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), is pleased to announce that it has received anticipated purchase orders for 53 RIO units from a major Fortune 500 client (the “Units”). These orders were previously announced, as expected, in a July 23, 2024 press release.

When fully deployed, the Units referenced in the purchase orders, along with the associated remote monitoring contracts, are expected to generate over $1 million in annual recurring revenue (ARR), bringing RAD closer to its goal of organically reaching $10 million in ARR during this fiscal year.

Steve Reinharz, CEO/CTO of AITX and RAD, commented, “As expected, the second half of the year will be productive in orders, deployments and technical innovation.”

The Company noted that, following the client's directive to prepare for these orders, manufacturing and allocation began in July, positioning RAD to initiate deployments in late August.

Sitting atop a standard RIO 360 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.