HENDERSON, Nev.--(BUSINESS WIRE)--$AITX #cannabis--Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices (RAD) has received an opening order and entered into an agreement to develop custom solutions for Grapefruit USA, Inc. (OTCQB:GPFT).
As part of the agreement, Grapefruit will be optimizing its existing and future security with RAD’s solutions, beginning with an order for two ROSA units to be delivered within ninety days.
Furthermore, RAD will use its artificial intelligence video analytics to develop specific solutions to industry challenges in co-development with Grapefruit. Details are still being worked out and will be announced when the solutions near completion in approximately six to twelve months.
“Grapefruit’s use of RAD will optimize our security and other facility operations while saving us time and money in the process,” said Bradley Yourist, co-founder and Chief Operating Officer of Grapefruit. “At this point in time, we are unable to disclose the depth of our project with AITX, but our long term goal is to capitalize on RAD’s technology to further help Grapefruit push the envelope in the cannabis industry. We strongly believe we will be able to use this new platform to create new revenue streams for Grapefruit in the future.”
“We’re thrilled that Grapefruit is our first client from the cannabis industry as we see significant potential for RAD in that industry,” said Steve Reinharz, President of RAD. “The co-development project, based on significant input from Grapefruit, could be a serious part of the industry’s operating practices.”
RAD has a sales pipeline of over 35 Fortune 500 companies and numerous other potential clients. RAD expects to continue to attract new business 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.
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