Artificial Intelligence Technology Solutions Receives PO From Public Transportation Agency
May 07 2019 - 9:08AM
InvestorsHub NewsWire
Artificial Intelligence Technology Solutions Receives PO From
Public Transportation Agency
Reno, NV -- May 7, 2019 -- InvestorsHub NewsWire -- Artificial
Intelligence Technology Solutions, Inc., (AITX: OTCPK) is pleased
to announce that Robotic Assistance Devices (RAD), its wholly owned
subsidiary, has received a purchase order for three units from
a major US Transportation Agency. The company had been in
discussions with the transportation client as previously released
on January 7, 2019. The transport agency operates railway and metro
lines used for general public transport over a more than 1,000
square mile area with a population of roughly 9 million people and
has over 15,000 bus stops and rail way stations. This purchase
order is for a paid pilot which upon customer satisfaction will
become a commercial order. The company anticipates based on recent
discussions with the client that foreseeable total deployments
could conservatively reach well over 100 units for that local
region alone in the future.
“We are very pleased to have received our first PO in the
transportation industry,” said Steve Reinharz, President and CEO of
RAD. “This client is a government agency which opens the door to
potentially many more government agency clients in the future.”
The public transport sector presents a significant opportunity
for the Company. There are more than 1,500 public and private
sector organizations, engaged in the areas of bus, paratransit,
light rail, commuter rail, subways, waterborne services, and
intercity and high-speed passenger rail.
The company continues to gain momentum as it adds new verticals
to its client base and increases the potential number of reorders
from new and existing clients.
The company may post important information about its subsidiary
RAD on its website
at www.RoboticAssistanceDevices.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
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