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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 24, 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 24, 2023, we will be issuing a press release titled “AITX’s Subsidiary RAD Announces the Successful Deployment of
10 ROSA Devices at an East Coast University”, 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 24, 2023 |
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
|
|
|
|
|
/s/
Steven Reinharz |
|
Name: |
Steven
Reinharz |
|
Title: |
Chief
Executive Officer |
Exhibit 99.1
AITX’s Subsidiary
RAD Announces the Successful Deployment of 10 ROSA Devices at an East Coast University
Detroit, Michigan, October 24, 2023 — Artificial
Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity
solutions for enterprise clients along with its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), today announced the
successful deployment of 10 ROSA™ devices at an East Coast university.
The original order for these 10 ROSA security robots
was announced on July 26, 2023 via a press release.
In a continuation of this partnership, the university
is in the process of finalizing paperwork for an additional five ROSA units. Beyond standard security measures, the institution had shown
interest in incorporating RAD’s RAD Light My Way™ application, if implemented, would further enhance the deployed
ROSA’s existing trespassing, loitering detection and firearm detection capabilities.
Steve Reinharz, CEO of AITX and RAD, stated, “Our
collaboration with this university represents an important step for RAD. The adoption of our technology by such prestigious institutions
highlights its practicality and relevance in addressing today’s campus security concerns.”
Mark Folmer, CPP, PSP, FSyI, President of RAD, added,
“Safety on campuses has been a long-standing concern, and it’s encouraging to see institutions explore new solutions. We believe
RAD’s offerings can make a tangible difference, and we hope to see more universities take a similar approach in the future.”
The Company noted that Scotland Hospital, also a
RAD client, has reported a positive experience with RAD’s security solutions, further indicating the practical utility,
and affordability of these devices in diverse settings.
Reinharz concluded, “The feedback from Scotland
Hospital and our ongoing work with the East Coast university are constructive indicators of RAD’s potential in the security and
property management sectors.”
ROSA is a multiple award-winning, compact,
self-contained, portable, security and communication solution that can be installed and activated 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, firearm, vehicle 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 four Case Studies detailing how ROSA
has helped eliminate instances of theft, trespassing and loitering at multi-family communities, car rental locations
and construction sites across the country.
RAD Light My Way has been the recipient of two
Secure Campus 2022 Awards from Campus Security & Life Safety Magazine. In October 2021 RAD Light My Way along with RAD’s
ROSA won CBRE’s 2021 Best Workplace Experience Solution Award.
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 these 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.
RAD has a prospective sales pipeline of over 35 Fortune
500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales
opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous
reorders over time.
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
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