RENO, NV, Sept. 12, 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 completed the implementation of its first Wally unit into a healthcare client’s hospital.
This healthcare client owns and operates five hospitals and over 100 clinics.
“Our healthcare sales funnel shows that this vertical has needs that are well satisfied by the RAD solution,” said Steve Reinharz, President and CEO of RAD. “I expect that hospitals will also increase their all-important HCAP scores through the implementation of RAD solutions.”
Another healthcare client has recently requested a proposal that if accepted would generate over $1.2 Million in annual recurring revenue for RAD while saving the client several millions of dollars in equivalent manned guarding costs.
RAD expects to release a software application in the near future originally inspired by the nursing staff of a top 5 hospital network. This application is expected to solve a specific challenge in healthcare and other large-campus environments.
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 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.
Contact:
Steve Reinharz
305.721.2727