$AITX's Subsidiary Robotic Assistance Devices Anno
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Posted On: 05/17/2022 1:29:52 PM
$AITX's Subsidiary Robotic Assistance Devices Announces Residential Security Solution
https://www.globenewswire.com/news-release/20...ution.html
Detroit, Michigan, May 17, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) expects to launch a product into the rapidly expanding residential security market that is based around its best-selling ROSA solution.
AITX indicated that the development project will utilize technology from its wholly owned subsidiary Robotic Assistance Devices Group (RAD-G), specifically ‘RADPACK-mini’ which controls the device’s power, communications, peripherals and handles much of its analytic processing. The second critical component of the upcoming residential solution is ‘RADCam’, RAD’s integrated camera that features sufficient processing power to drive complex AI analytics.
"We have been working toward this announcement for quite some time,” said Steve Reinharz, CEO of AITX. “The consumer market is hungry for the next wave of home security solutions, and RAD will be ready to deliver. The consumer has been led to believe that existing home security cameras are part of a ‘smart home’. Just wait until they see what a RAD home system can do. We are going to redefine the word ‘smart’.”
According to a recent study published by Global Industry Analysts Inc., the home security systems market in the US is estimated at $17.6 Billion in 2022.
The Company also confirmed that initial production will be in Q4 of this year, with a limited launch of between 1,000 to 2,500 units expected. Pricing, distribution, and other details to be announced at a later date.
“I also expect that we will adapt other devices from our commercial safety and security line to residential use over the next couple of years”, Reinharz concluded.
RAD’s parent company AITX intends to file for listing on the OTCQB within 10 days of filing its YE2022 10-K which is expected in May.
https://www.globenewswire.com/news-release/20...ution.html
Detroit, Michigan, May 17, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) expects to launch a product into the rapidly expanding residential security market that is based around its best-selling ROSA solution.
AITX indicated that the development project will utilize technology from its wholly owned subsidiary Robotic Assistance Devices Group (RAD-G), specifically ‘RADPACK-mini’ which controls the device’s power, communications, peripherals and handles much of its analytic processing. The second critical component of the upcoming residential solution is ‘RADCam’, RAD’s integrated camera that features sufficient processing power to drive complex AI analytics.
"We have been working toward this announcement for quite some time,” said Steve Reinharz, CEO of AITX. “The consumer market is hungry for the next wave of home security solutions, and RAD will be ready to deliver. The consumer has been led to believe that existing home security cameras are part of a ‘smart home’. Just wait until they see what a RAD home system can do. We are going to redefine the word ‘smart’.”
According to a recent study published by Global Industry Analysts Inc., the home security systems market in the US is estimated at $17.6 Billion in 2022.
The Company also confirmed that initial production will be in Q4 of this year, with a limited launch of between 1,000 to 2,500 units expected. Pricing, distribution, and other details to be announced at a later date.
“I also expect that we will adapt other devices from our commercial safety and security line to residential use over the next couple of years”, Reinharz concluded.
RAD’s parent company AITX intends to file for listing on the OTCQB within 10 days of filing its YE2022 10-K which is expected in May.
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