$AITX Feb. 21, 2023 (GLOBE NEWSWIRE) -- Artificial
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Posted On: 02/27/2023 7:58:09 AM
$AITX Feb. 21, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients, today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has provided an update on sales activities and the continued expansion of its authorized dealer channel.
“Fiscal year 2024 begins next week and I’m enthusiastic with the depth and the caliber of what’s in RAD’s sales pipeline,” said Steve Reinharz, CEO of AITX and RAD. “We’re busy closing, producing and deploying these orders.”
The Company confirmed that it expects to book over 300 units on order before the fiscal year ends February 28, 2023. RAD had an intake of 187 device orders in FY 2022 which ended February 28, 2022. “We’re grinding to surpass the 300-unit mark for this fiscal year. Should we be successful in hitting it, that number will indicate a 60 percent increase over the previous fiscal year,” Reinharz added.
In a press release dated February 8, 2023, GXO, the world’s largest pure-play contract logistics provider, announced its expanded partnership with AITX and RAD. “GXO has ordered 4 RIOs and 1 AVA since we were given permission to name them as RAD’s largest single client. That’s 5 units in just 13 days!” Reinharz concluded.
“It’s impressive that RAD is continuing to penetrate new vertical markets and attract new dealer representation,” said Mark Folmer, RAD President. “RAD has recently secured new opportunities with one of the largest short line railroad companies and a leader in the cannabis distribution industry. The security problems that RAD solutions address are impacting just about every industry, and these industry leaders are eagerly seeking these solutions.”
“Fiscal year 2024 begins next week and I’m enthusiastic with the depth and the caliber of what’s in RAD’s sales pipeline,” said Steve Reinharz, CEO of AITX and RAD. “We’re busy closing, producing and deploying these orders.”
The Company confirmed that it expects to book over 300 units on order before the fiscal year ends February 28, 2023. RAD had an intake of 187 device orders in FY 2022 which ended February 28, 2022. “We’re grinding to surpass the 300-unit mark for this fiscal year. Should we be successful in hitting it, that number will indicate a 60 percent increase over the previous fiscal year,” Reinharz added.
In a press release dated February 8, 2023, GXO, the world’s largest pure-play contract logistics provider, announced its expanded partnership with AITX and RAD. “GXO has ordered 4 RIOs and 1 AVA since we were given permission to name them as RAD’s largest single client. That’s 5 units in just 13 days!” Reinharz concluded.
“It’s impressive that RAD is continuing to penetrate new vertical markets and attract new dealer representation,” said Mark Folmer, RAD President. “RAD has recently secured new opportunities with one of the largest short line railroad companies and a leader in the cannabis distribution industry. The security problems that RAD solutions address are impacting just about every industry, and these industry leaders are eagerly seeking these solutions.”
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