The Stock Day Podcast welcomed Artificial Intelligence Technology Solutions, Inc. (OTC PINK:AITX) (“the Company”), 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. CEO of the Company, Steve Reinharz, joined Stock Day host Matthew Dunehoo. The interview was recorded on Thursday November 30, 2023.
Dunehoo began the interview by asking about the Company’s recent increase in stock price. “Could you share some insight into the Company’s recent sales and momentum and how that has been influencing the stock price movement?”, asked Dunehoo. Reinharz shared that part of the recent surge has been due to a series of orders from a single user coming to fruition over the course of November. “We recently issued a press release detailing how this client would be contributing $3 million a year or more in recurring annual revenues for as long as the contract remains at its current level,” said Reinharz. “I believe that perhaps has led to the surge in volume and the corresponding significant price increase.”
“Could you shed some light on what it takes for a company of AITX’s size to become a qualified vendor for such a prestigious client?”, asked Dunehoo. “This particular account is a Fortune 50 account,” said Reinharz. “We have several, maybe many, Fortune 50 accounts right now in our books and it requires a lot of work, including having dealers warm introductions to these serviceable end users, which provide credibility,” he continued. “Our biggest dealer is the largest security company in the world, Allied Universal,” added Reinharz. “We are currently in our 8th year of business – we have navigated the waters. That gives Fortune 50 companies another sense of confidence,” said Reinharz. “However, the key factor is to deliver innovative technologies at an incredible price.”
“Could you provide an overview of your AI technologies and how they are currently being employed in the security services industry, specifically in the property management sectors?”, asked Dunehoo. “End users and dealers are looking at us to reduce human guard spending,” said Reinharz. “There are some challenges in the guarding market, mainly the increasing wage rate,” he explained. “As that pay rate increases, it pushes companies to consider and evaluate other solutions and options that may perform largely the same work but at a significant savings, and that’s where we come in.”
“What are the challenges of that industry that your technology handles more effectively?”, asked Dunehoo. Reinharz elaborated on the Company’s success in deterring loitering from business establishments. “We have cases where we reduced 600 loitering cases per month to under 50 cases per month,” shared Reinharz, before discussing the Company’s work with firearm detection and other AI-based security solutions.
“How does your technology work on the ground?”, asked Dunehoo. “We are taking advanced analytics and applying a contextual autonomous response to the situation,” said Reinharz. “We do also have a handful of moving robots as well, particularly our RADDOG devices, which are very cool and were featured in a FOX prime time show this past summer,” he continued.
“What kind of emerging trends and innovations do you foresee in the AI and robotics space that will have significant impact?”, asked Dunehoo. “The economic rebalancing on wage rates and inflation effects on corporate America is going to be the driving cause for adoption of AI solutions, unquestionably,” said Reinharz. “We will be in that stage in 2024 and it will be further enhanced by the solutions that we offer, particularly adding analytics and making the interactions more complete and human-like.”
To close the interview, Reinharz encouraged listeners and shareholders to keep up with the Company’s updates and current projects by engaging with their websites www.aitx.ai and www.radsecurity.com as they continue to grow across an expanding market.
To hear the entire interview with Steve Reinharz, follow the link to the podcast here: https://audioboom.com/posts/8411373-aitx-ceo-steve-reinharz-discusses-2024-sales-outlook-with-the-stock-day-podcast
About Artificial Intelligence Technology Solutions (AITX)
AITX 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, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX 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 staff and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, www.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price. The realization of the revenue referenced above is contingent upon several factors, including RAD producing and delivering the ordered products, customer acceptance of said deliveries, proper operation, client acceptance, client payment and any other issues that could interfere with these activities.
Artificial Intelligence Technology Solutions, Inc.
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