Initiative Will Place RAD’s Industry-Proven AI-Based Security Hardware and Software in OEM Devices
Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Group (RAD-G) has launched efforts to provide OEM system-level components to specific industries and clients outside of the Company’s existing security services industry footprint.
To support and lead these efforts, the Company has named Ravi Gade as RAD-G’s OEM Program Director. “I am pleased to welcome Ravi to the RAD team,” said Steve Reinharz, CEO of AITX. “Ravi is an accomplished business builder that has been part of the RAD and AITX orbit for some time. I believe that Ravi leading the RAD-G efforts of placing RAD’s hardware and software in new markets has significant potential.”
“I am excited to be joining forces with the team at RAD and AITX,” said Ravi Gade. “I look forward to applying my experiences in business development and AI to secure RAD-G’s inevitable position in providing exceptional OEM solutions.”
RAD-G’s initial product offering is RADPack Millie, a FPGA (field programmable gate array). FPGAs, like RADPack Millie, can deliver superior performance in deep learning applications where low latency is critical. FPGAs can be fine-tuned to balance power efficiency with performance requirements. Devices currently offered by RAD-G’s sister company and AITX wholly owned subsidiary, Robotic Assistance Devices (RAD) are powered by components closely related to RADPack Millie. These integrated solutions from RAD have received wide acclaim and have been honored with multiple awards within the security services and #proptech industries. RAD devices have the ability to autonomously detect and respond to instances of trespassing, loitering, the presence of firearms and more utilizing its advanced human, vehicle and other situational detections.
RAD-G will initially promote RADPack Millie in the EV (electric vehicle) charging station industry. According to recent reports, the number of public charging stations in the US has tripled since 2015 when there were fewer than 32,000 and is projected to reach between 800,000 and 1.7 million by the end of the decade. At the beginning of 2022, the Biden administration launched a $5 billion five-year plan to improve electric vehicle charging network infrastructure.
“The team at RAD and RAD-G has been in development of RADPack Millie and other FPGA, system-level, plug and play solutions for the past 16 months. Our plan is to offer EV charging station manufacturers a low-cost, add-on component to their existing charging stations,” Reinharz added. “RADPack Millie when integrated into a charging station will support up to four cameras, lights, speakers, and more. This will greatly expand the value of any charging station, providing much need security and safety features to an often vulnerable situation.”
“RAD has accomplished great things in the security services industry,” continued Gade. “With RAD-G we’re now packaging all the performance of RAD and making it available to OEMs in the EV charging industry and beyond.”
Pricing for RAD-G’s RADPack Millie has not been announced. Quantity-based pricing is offered along with a NRE cost (non-recurring engineering) cost. For more information, please visit radgroup.ai.
RAD-G’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
Robotic Assistance Devices Group (RAD-G) is a high-tech start-up that produces and delivers component-level artificial intelligence-based solutions that empower organizations to offer enhanced solutions based on proven technology, with a quick time-to-market. RAD-G has developed its advanced technology from the ground up including circuit board design, and base code development.
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, to meet business and financial goals including projections and forecasts, and other risks. No information contained in this news release should be construed as any indication whatsoever of the Company’s future stock price, revenues, or results of operations. Additionally, industry data provided herein is of no predictive value regarding the future sale of the Company’s products. 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.
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