Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices (RAD) has received a seven-unit order with the end-user being a Fortune 10 global technology company. The order has been placed through an existing RAD client, a Fortune 500 company logistics industry leader.
The seven-unit order consists of four AVA devices and three Wally units. All units will be deployed at the end-user’s newest distribution center. The AVA (‘Autonomous Vehicle Access’ unit) will be used to facilitate and provide access control to vehicles entering the distribution yard, previously manned by security guard personnel. The three Wally units will process employees and vendors as they enter the center’s one-million square foot, high-security warehouse. Wally is unique in being able to perform facility access control functions including, opening doors, the printing of badges, and documenting all details regarding who enters a secure facility, with barcode and NFC (Near Field Communication) scanning, plus AI-driven facial recognition verification.
The company also confirmed that it has received the awaited, additional two-unit Wally HSO order previously announced on February 23, also from a Fortune 500 client, bringing their total Wally HSO orders to eleven, with one additional Wally HSO order remaining that will complete this round of order commitments from this client.
“Today is the first day of our FY 2022, and this is an incredible way to start the year,” said Steve Reinharz, Founder and President of RAD. “These amazing Fortune 10, 50 and 500 clients are all seeing the benefit of what we’ve built into the RAD solution. They’re saving significant money while improving their process workflow, and at the same time, improving upon their security platform,” Reinharz concluded.
These orders are expected to be delivered within 60 days and are likely to cause a noticeable boost to Q1 revenue since the client has chosen to purchase these units outright, and their monthly subscriptions will start after the first year of service.
“As expected, we are seeing our ROSA solution becoming increasingly popular, and yet I firmly believe that AVA will be the break-out hit, and second best-selling RAD unit this fiscal year. There is simply a tremendous ROI for these users. I’m thrilled with this deployment,” Reinharz concluded.
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, 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 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 and RAD-M 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 and www.roboticassistancedevices.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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