RAD Gets 15 New Contracts Totaling 42 Devices D

RAD Gets 15 New Contracts Totaling 42 Devices

Detroit, Michigan, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the "Company" (OTCPK: AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices Inc. (RAD), has received 15 new contracts for 42 security robots.

The configuration of the 42 RAD devices placed on order is 25 ROSA stationary robots, 10 ROSA-P, switched-powered, pole-mounted solutions, 5 AVA access control devices, and 2 TOM autonomous visitor management solutions.

"This is the type of sales announcement we have been building towards," said Steve Reinharz, CEO of AITX and RAD. "The mix of these 15 orders is a well-balanced combination of new or expansion business, and dealer channel versus direct to the end-user fulfillment. Our sales team has worked hard to earn every single one of these orders and we do not take them for granted. Now it's up to our production and operations teams to build and deploy these 42 devices ASAP."

The Company has identified the order type (dealer channel vs. direct, new vs. existing) of the 15 orders placed.

Nearly one-third (31%) of the units ordered are for existing direct end-users, broadly expanding their deployments of RAD devices;
Over 21% of the units ordered are through existing dealers expanding RAD device deployments at existing end-users;
Nearly 20% of the units ordered are for new direct end-users;
14% of the units ordered are through existing dealers with new end-user business;
14% of the units ordered are through newly signed authorized dealers bringing RAD new end-users.

"As shown by the depth and breadth of these multiple orders, RAD's sales pipeline is flowing with a wide variety of high-quality opportunities, new channel partners and new end-users," said Mark Folmer, RAD President. "I applaud our business development team and dealers for helping RAD start the calendar year with a bang."

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 a 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.

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