Artificial Intelligence Technology Solutions Receives Preliminary Order With Multi-Billion Dollar Client
December 18 2018 - 9:29AM
InvestorsHub NewsWire
Reno, NV -- December 18, 2018 -- InvestorsHub NewsWire --
Artificial Intelligence Technology Solutions (OTCPK: AITX) is
pleased to announce that Robotic Assistance Devices (RAD), its
wholly owned subsidiary, recently received a preliminary order of
one SCOT™ unit and two Wally SCOT™ units at a multi-billion dollar
company with over 1,000 locations and more than 100,000
employees.
The first Scot™ unit was recently deployed and immediately
succeeding in eliminating targeted criminal behaviors as desired by
the end user.
The total potential value from this order assuming the client
uses the units for the full 4 year life is roughly $100,000. This
deployment is for an initial 3 of the client’s locations. Assuming
the client is satisfied, RAD is discussing future deployments which
over the next 3 years could have a combined total potential value
over the life of the deployment units of approximately
$8,000,000.
“This is notable as it is the first RAD deployment in an
environment that typically could not afford a responsive security
solution,” said Steve Reinharz, President and CEO of RAD. “I
believe there are well over 500,000 applications that exactly
mirror this situation.”
Note that RAD will be releasing details on its newest hardware
addition by the end of January 2019.
RAD is successfully winning large multi-billion dollar clients
who enjoy cost savings of 75% to 80% by using RAD products and
technology as compared to their existing legacy security costs.
RAD’s product sales life cycle for large clients follows several
steps; first clients test out a small number of units usually one
or two in a single or so location, then deploy to several more
locations and if satisfied start to plan for larger deployments
with the objective of capturing company wide savings by maximizing
unit deployments across numerous sites and thus benefiting from
significant cost savings company wide. At this point in RAD’s
growth cycle, several large clients have already successfully
ordered units and have also successfully reordered units as they
are working to increase the number of sites that are equipped with
RAD’s products. RAD is already discussing company wide deployment
with a number of clients and management believe it is only a matter
of time before clients start to place significantly larger unit
orders as they enter into the company wide deployment phase.
The company may post important information about its subsidiary
RAD on its website at www.Robotic AssistanceDevices.com and through
tweets from RAD President and CEO Steve Reinharz
(https://twitter.com/SteveReinharz)
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 RAD
Robotic Assistance Devices (RAD) 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, RAD can help organizations streamline
operations, increase ROI and strengthen business. RAD robotics
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. RAD robotic solutions are well suited for
use in multiple industries such as enterprises, government,
transportation, critical infrastructure, education and healthcare.
To learn more, visit www.roboticassistancedevices.com or
follow us on Twitter @RADbotsecurity.
Everest Corporate Advisors Inc.702-902-2361 www.everestcorp.net
- Source: On the Move Systems
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