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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): June 10, 2024
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
June 10, 2024, we will be issuing a press release titled “RIO Takes Center Stage with RAD’s Security Solution Shining at
CMA Fest”, 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
Exhibit
No. |
|
Description |
|
|
|
99.1 |
|
June 10, 2024 Press Release |
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
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:
June 10, 2024 |
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
|
|
|
|
|
/s/
Steven Reinharz |
|
Name: |
Steven
Reinharz |
|
Title: |
Chief
Executive Officer |
Exhibit
99.1
RIO
Takes Center Stage with RAD’s Security Solution Shining at CMA Fest
Seamless
Performance and Real-Time, Intelligent Surveillance Keep Attendees Safe
Detroit,
Michigan, June 10, 2024 – Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions,
Inc., (the “Company”) (OTCPK:AITX), is thrilled to announce the successful deployment of 4 RAD RIO™ (ROSA
Independent Observatory) solar-powered mobile surveillance units (MSU) during the 2024 CMA Fest in Nashville, Tennessee.
The
CMA Fest, one of the most significant country music events in the world, saw tens of thousands of fans flock to Nashville for an unforgettable
weekend of music and entertainment. Ensuring the safety and security of such a large gathering is always a top priority, and this
year, RIO played a crucial role in achieving that goal.
Throughout
the festival, the RIO units were strategically placed across key locations to enhance security coverage. The units operated flawlessly,
providing continuous surveillance, monitoring for potential threats, and ensuring rapid response capabilities. The advanced AI technology
embedded within the RIO units allowed for real-time analysis of crowd movement, immediate detection of any unusual activities, and swift
communication with on-site security personnel law enforcement.
Steve
Reinharz, CEO/CTO of AITX and RAD, commented on the deployment, stating, “The successful performance of RIO during the CMA Fest
is a testament to our commitment to providing best in class security solutions. Our AI-driven technology not only enhances safety but
also offers a cost-effective alternative to traditional security methods. We are proud of the role our tech played in ensuring a safe
and enjoyable experience for all attendees.”
“RIO
has proven its effectiveness at several outdoor events and venues, capturing the attention of event organizers, security professionals
and law enforcement,” said Troy McCanna, RAD’s Chief Security Officer and former FBI senior agent in charge of tactical operations
in Michigan and Ohio. “The success of these deployments has demonstrated RIO’s ability to provide robust, reliable security
in dynamic environments.”
Building
on this momentum, RAD expects to announce additional event deployments for RIO in the coming months.
Sitting
atop a standard RIO 360 configuration are dual ROSA units. ROSA is a multiple award-winning, compact, self-contained, portable,
security and communication solution that can be installed and activated in about 15 minutes. 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 high-resolution, full-color, always-on cameras. RAD has published six Case Studies detailing how ROSA has
helped eliminate instances of theft, trespassing and loitering at retail centers, hospital campuses, multi-family communities,
car rental locations and construction sites across the country.
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,
RAD-R, 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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