Detroit, Michigan, July 11, 2024 — Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCPK:AITX), is pleased to announce that it has secured an expansion order from a prominent healthcare provider ranked in the top 25 nationwide. This order builds on the initial deployment of RAD’s RIO™ 360 solar-powered security towers earlier this year.
The specifics of the new order, including the number of units and financial details, remain confidential. However, this significant follow-up order underscores the growing trust and reliance on RAD’s cutting-edge security solutions by leading healthcare organizations.
“The healthcare industry’s ongoing investment in RAD’s technology is a testament to the value we bring in enhancing security and safety,” said Mark Folmer, CPP, PSP, FSyI, President of RAD. “This expansion order further validates our commitment to driving technological advancements that make a meaningful difference. We are excited to strengthen our presence in the healthcare market.”
The Company also noted that the client intends to deploy RAD Light My Way™ as part of their ongoing expansion. RAD Light My Way is an integrated mobile app and hardware solution designed to enhance user safety and security. This innovative system empowers users by providing instant access to emergency services, real-time threat detection, and the ability to summon assistance through nearby RAD devices. This addition aims to significantly boost the overall security infrastructure, ensuring that healthcare workers feel safe and protected, especially when moving to and from parking areas.
According to the American Hospital Association, there are 6,120 hospitals in the United States as of 2024[i]. Concerns about safety among hospital workers, especially when alone in parking lots, are significant. A recent report highlighted that healthcare workers frequently face threats and violence, with incidents in parking areas being common.[ii] Hospitals are responding by enhancing security measures, including increased surveillance technology to protect staff when walking to and from their cars.[iii]
AITX, through its subsidiaries, Robotic Assistance Devices, Inc. (RAD), RAD-R, RAD-M and RAD-G 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.
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-I, RAD-R, 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 staff 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.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @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 that the Company will meet its expectations with respect to its future sales volume, becoming cash flow positive, ARR or RMR. 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.
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Steve Reinharz
949-636-7060
@SteveReinharz
[i] https://www.aha.org/system/files/media/file/2024/01/fast-facts-on-us-hospitals-2024-20240112.pdf
[ii] https://www.aamc.org/news/threats-against-health-care-workers-are-rising-heres-how-hospitals-are-protecting-their-staffs
[iii] https://www.cdc.gov/vitalsigns/health-worker-mental-health/index.html
