Blog: Artificial Intelligence Technology Solutions Receives PO From Public Transportation Agency – Yahoo Finance
Reno, Nev., May 07, 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 received a purchase order for three units from a major US Transportation Agency. The company had been in discussions with the transportation client as previously released on January 7, 2019. The transport agency operates railway and metro lines used for general public transport over a more than 1,000 square mile area with a population of roughly 9 million people and has over 15,000 bus stops and rail way stations. This purchase order is for a paid pilot which upon customer satisfaction will become a commercial order. The company anticipates based on recent discussions with the client that foreseeable total deployments could conservatively reach well over 100 units for that local region alone in the future.
“We are very pleased to have received our first PO in the transportation industry,” said Steve Reinharz, President and CEO of RAD. “This client is a government agency which opens the door to potentially many more government agency clients in the future.”
The public transport sector presents a significant opportunity for the Company. There are more than 1,500 public and private sector organizations, engaged in the areas of bus, paratransit, light rail, commuter rail, subways, waterborne services, and intercity and high-speed passenger rail.
The company continues to gain momentum as it adds new verticals to its client base and increases the potential number of reorders from new and existing clients.
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.
Everest Corporate Advisors Inc.