Artificial Intelligence Technology Solutions, Inc.
RAD also announcit is RADSoC Integration with Existing Security Camera Networks
Detroit, Mich., Aug. 10, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has received a Letter of Intent (LOI) with an east coast parochial school to deploy 2 ROSA security robots with firearm detection technology. Coinciding with this deployment, RAD is announcing the integration of its RADSoC™ with its full suite of AI analytics with existing networks of security cameras. The school currently has approximately 120 security cameras, of which 50 will be connected to the RAD ecosystem.
RADSoC is RAD’s proprietary, hybrid on-premises/cloud series of applications that until now has been limited to only RAD devices. The announced plan of RADSoC’s integration with existing networks of IP-based cameras opens the Company’s addressable market potentially to the several hundred million security cameras presently deployed across RAD’s target markets.
“This one deployment has the potential makings of a seminal moment for AITX and RAD,” said Steve Reinharz, CEO of AITX and RAD. “We knew from the start that we were a software company needing to build amazing hardware in order to execute our remarkable software. This school is about to deploy both.”
A recent report by Berg Insight, estimated the installed base of connected video surveillance cameras in Europe and North America to grow at a CAGR of 18.1 percent, growing from 183 million units in 2019 to over 420 million units in 2024.
“We feel that this is the right time, and this is the right application, where we can throw open the doors to the RAD ecosystem and invite other security camera networks to take advantage of RAD’s incredible AI software suite,” Reinharz concluded.
The east coast school’s dual ROSA deployment, plus integration with its existing network of security cameras is expected to begin in September. Additional details regarding RAD’s software integration with actively deployed IP cameras is expected in the coming weeks.
RAD’s parent company, AITX, has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
RAD’s firearm detection identifies the presence of side arms and long gun firearms. Immediately upon the detection of a firearm, RAD’s AI-driven analytics system will autonomously perform a variety of actions including appropriately activating a local audible and visible alerts, locking and securing doors, notifications to remote monitoring or onsite security staff, and law enforcement authorities – ideally before any shots are fired.
ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary communications hardware. ROSA’s AI-driven security analytics include human, vehicle and firearm 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 dual high-resolution, full-color, always-on cameras. RAD has published two Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at car rental locations and construction sites across the country.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user’s experience of all security robots whether SCOT™ROSE™Wally™Wally HSO™AVA™ROAM™CASSIE™RIVER™or RAD Light My Way™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto, and requesting a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.
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 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, to meet business and financial goals including projections and forecasts, and other risks. No information contained in this news release should be constructed as any indication whatsoever of the Company’s future stock price, revenues, or results of operations. Additionally, industry data provided herein is of no predictive value regarding the future sale of the Company’s products. 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 Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, stevereinharz.com, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @stevereinharz.