AITX Subsidiary Robotic Assistive Devices Provide Detailed Example of Long Sales… | New

RAD comments on16MonthBig Opportunity End User Sales Processs

Detroit, Michigan, Oct. 05, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., ( OTCPK:AITX ), today announced that its wholly-owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has received an order for a ROSA safety robot. The purchase order was identified by RAD as an example of the complexities and considerable effort involved in selling advanced technology solutions to B2B customers.

“This particular customer order was facilitated by CBRE and Grainger for a major Fortune 500 customer,” said Mark Folmer, president of RAD. “While a customer order for a single ROSA unit may seem insignificant from a revenue perspective, this is a key data point for us as we begin to see adoption of the RAD platform. by Fortune 500 companies.”

Ordering this ROSA unit was recommended by CBRE, the end user’s facilities management company, with Grainger handling order processing and fulfillment responsibilities.

In June 2021, RAD was invited by Grainger to submit ROSA and RAD Light My Way as entries for CBRE’s annual “Innovation Challenge”. On October 26, 2021, it was announced that ROSA and RAD Light My Way had been honored as winners of this prestigious award.

“From a sales perspective, RAD’s primary focus has always been large enterprises whose bottom line would benefit the most from RAD’s on-site security cost reductions. Our data suggests that in times of economic uncertainty, large companies like these are more open to adopting new technologies as cost reduction measures,” said Steve Reinharz, CEO of AITX and RAD. “Receiving this order as a direct result of CBRE’s innovation challenge strengthens our position as a trusted platform in this rapidly growing industry.

According to a Gartner report, the typical buying group for a complex B2B solution involves six to ten decision makers‚ each armed with four or five pieces of information they have independently gathered and must confront the group. “There were certainly hundreds of opportunities in this sales process for a single decision maker to say ‘no’ or ‘not now,'” Reinharz added. “The RAD sales team just push through the objections and keep their eyes on the win.”

“Winning the CBRE Innovation Challenge introduced RAD’s platform and solutions to dozens of decision makers within CBRE and Grainger,” Folmer added. “Having these people present our solutions to many of their respective customers and associates has been a boon for us. Our sales funnel has started to fill with a substantial number of solid leads from companies in our target markets. »

“We tend to talk about our ‘research’ often, but as a technology company, it’s imperative that we look at every data point we have. Our sales and marketing team has found that the RAD sales cycle is beginning to tighten as more and more enterprise customers begin to look for cost reduction measures in their organizations. We have seen some large clients willing to move away from their reliance on human resources and opt for automation processes wherever possible,” concluded Reinharz.

RAD has a sales pipeline of over 35 Fortune 500 companies and many other client opportunities. RAD plans to continue to attract new business by converting its existing sales opportunities into deployed customers generating a recurring revenue stream. Every Fortune 500 customer has the potential to place many orders over time.

RAD’s parent company, AITX, has applied for OTCQB listing. Future announcements will be made regarding the status of the OTCQB application.

Robotic Assistance Devices (RAD) is a high-tech start-up that provides robotics and artificial intelligence-based solutions that enable organizations to gain new knowledge, solve complex security problems and fuel new new business ideas at reduced costs. RAD has developed its advanced security robot technology from the ground up, including PCB design and basic code development. This allows RAD to have full control over all design elements, performance, quality and user experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™ , AVA™, ROAMEO™, CASSIE™, RIO™, or RAD Light My Way™. Learn how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto and requesting a copy of the recently released “Navigating the New Economy: Jobs & Automation, Challenges & Opportunities” document.

About CBRE Group, Inc.

CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment company (based on 2020 revenues). The company has more than 100,000 employees serving customers in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; assessment and evaluation; real estate leasing; strategic advice; real estate sales; mortgage services and development services. Please visit our website at www.cbre.com.

About WW Grainger, Inc.

WW Grainger, Inc., with 2021 sales of $13.0 billion, is a leading extended line distributor with operations primarily in North America, Japan and the United Kingdom. Grainger achieves its goal, We Keep the World Working®, by serving more than 4.5 million customers worldwide with a wide range of product categories that keep customers’ operations running smoothly and their employees safe. The company also provides services and solutions, such as technical support and inventory management, to deliver tangible value and save customers time and money. Grainger offers more than 2 million maintenance, repair and operation (MRO) products in its High-Touch Solutions assortment and more than 30 million products through its expanding Endless Assortment.

CAUTION REGARDING 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 of 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 press 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: Artificial Intelligence Technology Solutions to meet its obligations, to provide working capital requirements from operating revenues, to obtain additional financing necessary for any future acquisition, to meet competitive challenges and technological changes, to achieve business objectives and financial, including projections and forecasts, and other risks. Nothing contained in this press release should be construed as any indication of future stock price, earnings or results of operations of the Company. Further, the industry data provided herein does not have any predictive value regarding the future sale of the Company’s products. Artificial Intelligence Technology Solutions assumes no obligation to update any forward-looking statements and/or confirm the statement(s) with respect to actual results or changes in Artificial Intelligence Technology Solutions’ expectations.

About Artificial Intelligence Technology Solutions (AITX)

AITX is an innovator in delivering artificial intelligence-based solutions that empower organizations to gain new insights, solve complex challenges, and fuel new business ideas. Through its next-generation robotics product offerings, AITX’s RAD, RAD-M, and RAD-G companies help organizations streamline operations, increase return on investment, and strengthen their business. AITX technology improves the simplicity and economy of patrol and guard services and allows experienced personnel to focus on more strategic tasks. Customers increase the capabilities of existing personnel and gain higher levels of situational awareness, all at a significantly reduced cost. AITX solutions are well suited for use in multiple industries such as enterprise, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, stevereinharz.com, www.radsecurity.com, radgroup.ai and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

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Steve Reinharz

949-636-7060

@SteveReinharz

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Sallie R. Loera