AITX’s Subsidiary, Robotic Assistance Devices, Announces Planning for 1000 RIO Version 4 Production Run

RAD also Considering Expanding Manufacturing Capacity to Accommodate 2000 ROSA Units in 2024

Detroit, Michigan, September 28, 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 plans related to the development and production of its innovative RIO™ solar-powered security tower solutions.

Specifically, the Company noted that it has begun an approximately 5-month effort to complete full design upgrades for RIO version 4.x with prototypes and supply chain coordination. These efforts are expected to yield the most highly designed RAD solution with the most comprehensive input from related supply chain vendors. It is expected that RIO version 4.x production will begin at the beginning of AITX’s fiscal year, March 2024.

“Planning this size of an endeavor, and allowing sufficient time enables us to work through the supply chain to find cost savings on parts and manufacturing,” said Steve Reinharz, CEO of AITX and RAD. “Furthermore, it allows completion of improvements to ROSA that will provide further cost and production savings. The goals of these efforts are to solidify RAD’s lead in the solar-powered tower space by offering unmatched functionality at an unmatched price. This is the first existing market we are targeting to dominate.”

“ROSA’s forthcoming enhancements, to be in version 4.0, are the culmination of RAD’s Autonomous Remote Solutions concepts that we have pioneered over the years,” commented Ioan Pop, Vice President of Research and Development at RAD. “We’ve made great strides in design efficiencies, reduction in power consumption, and vast improvements and enhancements to our AI analytics.”

Expect further details to be disclosed at the AITX Investor Town Hall and RAD Technology Reveal to be held on November 3rd. Those interested in attending the event may register here.

Beginning in the first half of 2024 and based on expected sales demand, RAD plans to scale RIO units’ production to approximately 100 units per month.

“RIO’s expected sales success gives us a new challenge at the REX, manufacturing space,” said Luke Ross, Vice President of Production at RAD. “We plan on continuing to invest in the REX, building ROSA, AVA, TOM and RADDOG, and other electronics assembly and testing while evaluating an additional location for RIO assembly and QC. If we’re planning for 100 units a month, we will simply need more space.”

“This is not simply about expansion and innovation,” said Mark Folmer, CPP, PSP, FSyI, President of RAD. “It’s also about steering the Company on the path towards becoming cash flow positive, a pivotal milestone underscoring our commitment to delivering shareholder value, consistent growth and industry leadership.”

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 four Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at multi-family communities, car rental locations and construction sites across the country.