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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 2, 2023
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
(Exact
name of registrant as specified in its charter) |
Nevada |
|
000-55079 |
|
27-2343603 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
10800
Galaxie Avenue
Ferndale,
MI 48220 |
(Address
of principal executive offices) |
(877)
787-6268 |
(Registrant’s
telephone number, including area code) |
Not
Applicable |
(Former
name or former address, if changed since last report.) |
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
N/A |
|
N/A |
|
N/A |
When
used in this Current Report on Form 8-K, unless otherwise indicated, the terms the “Company,” “our,” or “we”
refer to Artificial Intelligence Technology Solutions Inc. and its subsidiaries.
Item
8.01 Other Events
On
October 2, 2023, we will be issuing a press release titled “Ingram Micro Selects AVA from AITX’s Subsidiary RAD for Cost-Effective
Access Control at Busy Distribution Center Gates”, which press release is attached hereto as Exhibit 99.1.
The
information in this Current Report on Form 8-K with respect to Item 8.01 (including the press release attached hereto as Exhibit 99.1)
is being furnished pursuant to Item 8.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18
of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
This current report on Form 8-K (including Exhibit 99.1) will not be deemed an admission as to the materiality of any information contained
herein.
ITEM
9.01. EXHIBITS
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
October 2, 2023 |
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
|
|
|
|
|
/s/
Steven Reinharz |
|
Name: |
Steven
Reinharz |
|
Title: |
Chief
Executive Officer |
Exhibit
99.1
Ingram
Micro Selects AVA from AITX’s Subsidiary RAD for Cost-Effective Access Control at Busy Distribution Center Gates
Detroit,
Michigan, October 2, 2023 — Artificial Intelligence Technology Solutions, Inc.,
(the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions along with its wholly
owned subsidiary, Robotic Assistance Devices, Inc. (RAD), today announced that Ingram Micro, Inc. (Ingram Micro) has selected AVA™
for deployment at several of their distribution centers. Ingram Micro had ordered its first 2 AVA units in Q3 of 2022, as announced in
a press release dated July 25, 2022. The initial order was facilitated through one of RAD’s largest authorized dealers.
Ingram
Micro is a global information technology (IT) wholesale distributor, providing sales, marketing, and logistics services for the IT
industry worldwide. The company is based in Irvine, California.
“We
were looking for an AI-powered solution that could be deployed at our advanced logistics centers which would enhance our customer experience
by improving the efficiency of our team,” said Eddie Cabana, Senior Manager, Safety & Security at Ingram Micro. “As we
identified areas of our operation with generally repetitive and stationary tasks, RAD’s AVA devices seemed to be an ideal solution
to augment our staff to better utilize our human element of security while enabling cost savings.”
An
autonomous device like AVA (Autonomous Verified Access) at access gates offers distinct advantages over relying solely on human security
guards. AVA provides a consistent and reliable 180° field of vision, and continuous monitoring, whereas human guards may become fatigued
or distracted. AVA operates around the clock without breaks, reducing the risk of human error or negligence. AVA integrates RAD’s
advanced AI-powered access control technology, enhancing security, reporting, and efficiency.
Cabana
continued, “AVA provides us with what we need for efficient access control. Its ability to effortlessly process deliveries and
shipments, along with its video and data records, keep us apprised of what is coming in and going out of our gates in real time.”
Ingram
Micro has expansion plans for at least 4 more AVA units to be deployed at 2 east coast distribution centers. “We are exploring
implementation of additional RAD devices such as the ROSA and RADDOG 3S as well which may complement our security posture,” Cabana
added.
“If
there is such a thing as a perfect client, Ingram Micro is the perfect client for RAD,” said Steve Reinharz, CEO of AITX and RAD.
“We built the Company to solve complex security problems while reducing guard expenses at enterprise clients. That is exactly what’s
in place at Ingram Micro, and they’re planning to expand with us even further.”
“Working
with the RAD team to customize AVA to align with our existing processes and systems was refreshingly easy. It was wonderful to see a
supplier take a customer-centric approach to deploying technology,” Cabana concluded.
AVA
is a compact, stanchion mounted unit that provides an edge-to-edge 180° field of vision with advanced access control over gates
and other controlled points of entry. AVA takes full advantage of the RAD Software Suite providing an ideal solution for logistics and
distribution centers, storage yards, parking structures and lots, corporate campuses; anywhere that increased visibility is needed at
a fraction of the cost. At ISC West 2022, AVA was named a winner of the SIA New Products and
Solutions Awards in the category of Access Control Software, Hardware, Devices and Peripherals.
AITX,
through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services
industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed
to provide cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding
and monitoring model. RAD delivers this tremendous cost savings via a suite of stationary and mobile robotic solutions that complement,
and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based
analytics and software platforms are developed in-house.
About
Ingram Micro
Ingram
Micro is the business behind the world’s brands with the ability to reach nearly 90 percent of the world’s population. Our
diverse solutions portfolio spans thousands of technology hardware and services options, as well as XaaS solutions. As part of our commitment
to reducing environmental impact, we offer full-service IT Asset Disposal as well as reverse logistics and repair services. We also offer
a more intelligent and streamlined way of doing business in the IT industry with our digital platform Ingram Micro Xvantage™. Reaching
close to 200 countries, we have approximately 27,000 associates and more than 161,000 customers and 1,500 vendor partners worldwide.
Learn more at www.ingrammicro.com.
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 staff 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, www.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com,
or follow Steve Reinharz on Twitter @SteveReinharz.
CAUTIONARY
DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The
information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence
Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees
of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and
reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company
has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted
as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
###
Steve
Reinharz
949-636-7060
@SteveReinharz
v3.23.3
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