Miami, FL – June 24, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Artificial Intelligence Technology Solutions, Inc. (OTC Pink: AITX) .
Artificial Intelligence Technology Solutions Inc. focuses on the delivery of artificial intelligence and robotic solutions for operational, security, and monitoring needs. The company was formerly known as On The Move Systems Corp. and changed its name to Artificial Intelligence Technology Solutions Inc. in August 2018. Artificial Intelligence Technology Solutions Inc. was founded in 2016 and is based in Reno, Nevada.
Average daily volume for AITX 1 million shares. Today’s news has caused the volume to increase to over 18.9 million shares in the morning hours of trading.
Artificial Intelligence Technology Solutions, Inc. Press Release:
RENO, Nev.–(BUSINESS WIRE)–June 24, 2020–
Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) is pleased to announce that Robotic Assistance Devices (RAD), its wholly owned subsidiary, has entered into a direct master services contract with a major logistics client listed on the NYSE. This existing client chose to go direct with RAD and currently manages the logistics of its 50,000 clients.
“This new agreement holds the promise of opening the door to numerous purchase orders for RAD,” said Steve Reinharz, President and CEO of RAD. “As part of managing logistics, this client also manages numerous warehouses and facilities for its clients, each of which could benefit from RAD’s cost cutting solutions.”
The logistics industry is extremely cost sensitive and is always looking for ways to reduce costs, which lends itself well for RAD’s solutions that can save clients 70% on their security costs.
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.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200624005240/en/
CONTACT: Steve Reinharz
Stock Fruit LLC
SOURCE: Artificial Intelligence Technology Solutions, Inc. Copyright Business Wire 2020
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