RENO, NV, Aug. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Artificial Intelligence Technology Solutions, Inc. (AITX: OTCPK), is pleased to announce that Robotic Assistance Devices (RAD), its wholly owned subsidiary, has commenced the manufacturing of its proprietary outdoor autonomous mobile security robot RADBoT™ ‘ROAMEO’ (Rugged Observation Assistance Mobile Electronic Officer).
ROAMEO delivers all-terrain and all-weather mobility for RAD’s eco-system of security detection and alerting benefits, all within RAD’s acclaimed RADCloud software platform.
Full mobility performance specifications will be released over the coming months but expected performance features should include ability to traverse surfaces with ridges and obstructions up to 8”, variable speed up to 10mph, climbing ability of up to 25 degrees, and flexible run time up to 20 hours.
ROAMEO builds on RAD’s demonstrated ability to create high value and high quality hardware and software. Like the rest of RAD’s products and services, ROAMEO is 100% RAD designed and built.
“The release of SCOT in 2018 fueled our ability to deliver the same amazing RAD functionality via a mobile vehicle,” said Steve Reinharz, President and CEO of RAD. “ROAMEO is the realization of RAD’s goals to deliver next-generation security and concierge solutions to clients large and small.”
RAD circulated a request for interest in the form of a ‘soft launch’ on July 31 and received immediate interest from several of its clients including several Fortune 500 companies. At this time there is interest for a minimum of 20 ROAMEO units once development of ROAMEO is complete. RAD expects to receive net monthly payments from clients of $4,200 per unit with each unit having a useful life of 5 years. With the current interest from clients for 20 units, this could represent a potential revenue to RAD over the useful life of the units of 5 million dollars.
RAD expects to receive interest from clients for additional ROAMEO units in the future.
RAD has a sales pipeline of over 35 Fortune 500 companies and numerous other potential clients. RAD expects to continue to attract new clients as it converts its existing sales pipeline into paying customers. Each new Fortune 500 Customer has the potential of making numerous reorders over time.
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 of 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.