Artificial Intelligence Technology Solutions Receives Preliminary Order With Multi-Billion Dollar Client
- Posted by Vin Wiggins
- On December 18, 2018
RENO, NV, Dec. 18, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – 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.
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.