Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) is pleased to announce that Robotic Assistance Devices (RAD), its wholly owned subsidiary, has received a seven-unit order comprised of Scots and Rosas from a Public Transit Agency in Texas to be deployed at a variety of locations in support of guarding operations. RAD received this order from one of its largest dealers in its network.
“I expect this 28-month contract to be our signature deployment in the public transit industry and that other similar organizations will seek to replicate it across the country,” said Steve Reinharz, President and CEO of RAD. “The solution helps the organization save significant money while improving their security.”
The US transit system is comprised of over 1,500 private and public organizations engaged in bus, light rail, subway and other transport medians, presenting a tremendous opportunity for RAD as it works to penetrate this vertical. RAD has commenced the deployment of this order and expects to complete deployment within the next few months. RAD expects to deploy more orders in the near future as it continues to increase the number of deployed units in the field and thereby increasing its recurring revenue.
RAD has a sales pipeline of over 35 Fortune 500 companies and numerous other potential clients. RAD expects to continue to attract new clients as it converts its existing sales pipeline into paying customers. Each new Fortune 500 customer has the potential of making numerous reorders over time.
The company may post important information about its subsidiary RAD on its website at www.RoboticAssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.com/SteveReinharz).
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 of 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 RAD
Robotic Assistance Devices (RAD) has created an artificial intelligence driven platform of hardware, software, cloudware and mobileware that empower organizations to save significant money while improving performance of critical business functions. RAD helps organizations streamline operations, increase ROI and strengthen resiliency. By bringing intelligent autonomy to high frequency business tasks in security and general operations, RAD supports existing staff to be more efficient and focused on core business objectives. RAD brings several innovations to the security and concierge market that are delivering valuable ROI as clients seek to reduce expense while improving performance. RAD’s solutions are broadly applicable to most industries and government departments. To learn more, visit www.roboticassistancedevices.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200331005257/en/