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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 20, 2024
| ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
| (Exact
name of registrant as specified in its charter) |
| Nevada |
|
000-55079 |
|
27-2343603 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
10800
Galaxie Avenue
Ferndale,
MI 48220 |
| (Address
of principal executive offices) |
| (877)
787-6268 |
| (Registrant’s
telephone number, including area code) |
| Not
Applicable |
| (Former
name or former address, if changed since last report.) |
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| N/A |
|
N/A |
|
N/A |
When
used in this Current Report on Form 8-K, unless otherwise indicated, the terms the “Company,” “our,” or “we”
refer to Artificial Intelligence Technology Solutions Inc. and its subsidiaries.
Item
8.01 Other Events
On
November 20, 2024, we will be issuing a press release titled “AITX’s RAD Launches SARA™, the AI-driven Speaking Autonomous
Responsive Agent”, which press release is attached hereto as Exhibit 99.1.
The
information in this Current Report on Form 8-K with respect to Item 8.01 (including the press release attached hereto as Exhibit 99.1)
is being furnished pursuant to Item 8.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18
of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section,
nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
This current report on Form 8-K (including Exhibit 99.1) will not be deemed an admission as to the materiality of any information contained
herein.
ITEM
9.01. EXHIBITS
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| Date: |
November 20, 2024 |
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
| |
|
|
|
| |
|
|
/s/
Steven Reinharz |
| |
|
Name: |
Steven
Reinharz |
| |
|
Title: |
Chief
Executive Officer |
Exhibit
99.1
AITX’s
RAD Launches SARA™, the AI-driven Speaking Autonomous Responsive Agent
RAD
Expects to Transform Global Security Operations Centers with 90% Savings and Greater Performance
Detroit,
Michigan, November 20, 2024 — Artificial Intelligence Technology Solutions, Inc. (the “Company”)
(OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients, along with its subsidiary
Robotic Assistance Devices (RAD), proudly announces the launch of SARA™ (Speaking Autonomous Responsive Agent). This
innovative software solution is poised to redefine security monitoring, offering unparalleled efficiency and cost-effectiveness while
reshaping how Global Security Operations Centers (GSOCs) operate.
A
typical security operations center relies on human workers to review video footage escalated by analytics, assess the situation, and
decide on appropriate actions, which may include verbal engagement or escalation to facility management or law enforcement. SARA automates
these tasks with significant improvements, delivering enhanced efficiency, reduced costs, and superior performance across a wide range
of scenarios.
SARA
marks the debut of AITX’s AIR™ (Autonomous Intelligent Response) technology in a fully realized product. As the foundational
AI driving SARA, AIR enables the software to autonomously assess situations, engage intelligently, and execute actions traditionally
performed by human operators. This innovative application of AIR technology represents a significant milestone for AITX, showcasing its
potential to revolutionize security operations through adaptive, responsive, and cost-effective solutions.
SARA’s
Unique Benefits:
| |
● |
Efficiency:
Traditional GSOCs must anticipate staffing needs to handle incoming alerts, often leading to under or over staffing. SARA eliminates
this guesswork by scaling instantly and infinitely to manage any volume of escalations. |
| |
●
|
Cost:
Staffing a GSOC requires ongoing recruitment, human resource management, and the burden of rising labor costs. SARA offers a software-driven
alternative that reduces these expenses by over 90%, providing a cost-effective solution without sacrificing performance. |
| |
●
|
Performance:
SARA can escalate incidents with precision, simultaneously contacting up to three parties, such as facility management, law enforcement,
and security guards. Each message is tailored to the recipient, ensuring clear and actionable communication. |
| |
●
|
Transparency:
SARA delivers comprehensive incident reports that include video footage, call logs, and transcripts, ensuring full accountability
and visibility for every escalation. |
| |
●
|
Ease
of Deployment: Starting in January 2025, SARA will be an available upgrade on all RAD devices, including previously deployed
units. Even as an upgrade, SARA provides a compelling alternative, reducing monitoring expenses by over 90% while maintaining exceptional
performance. The setup is simple, leveraging RAD’s device ecosystem and enabling seamless integration with existing LAN-based
cameras through RAD’s Operations System Software (ROSS). |
“There
are over 225 Global Security Operations Centers1, and the monitoring industry generates over $3 billion annually2,”
said Steve Reinharz, CEO/CTO of AITX and RAD. “SARA represents a seismic shift for this market, enabling organizations to enhance
their security offerings at a fraction of the cost while improving performance. We see accelerated growth in the number of cameras connected
to GSOCS as SARA makes these services incredibly accessible. However, this decrease in overall costs will challenge this market niche
to maintain industry growth. We see rapid adoption of these solutions given SARA’s compelling value proposition.”
The
Global Security Operations Center market is projected to reach $16.18 billion by 2032, growing at a compound annual growth rate of 10.2%
from 20243. SARA is set to disrupt this growth trajectory by automating labor-intensive processes, empowering security firms
and end-users to achieve more with fewer resources. Its seamless integration with RAD’s proprietary Operations System Software
(ROSS) allows for a smooth upgrade of existing infrastructure without the need for significant hardware investment.
SARA’s
introduction signals a pivotal moment in the evolution of security operations. By automating traditionally labor-intensive processes,
it empowers GSOCs and security firms to reimagine their capabilities, delivering improved efficiency, responsiveness, and cost management.
This revolutionary approach aligns with the demands of an industry poised for significant growth, enabling organizations to enhance their
services while maintaining a competitive edge.
RAD
invites security professionals and stakeholders to explore SARA’s transformative capabilities. Live demonstrations and detailed
pricing information are available at radsecurity.com/sara. Experience firsthand how SARA is reshaping the future of security operations.
AITX,
through its subsidiary, Robotic Assistance Devices Inc. (RAD), continues to redefine security and facility management through
its proprietary AIR (Autonomous Intelligent Response) technology, redefining the nearly $50 billion (US) security and guarding
services industry4. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when
compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers these tremendous
cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for
human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are
developed in-house.
RAD
has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to
attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each
Fortune 500 client has the potential of making numerous reorders over time.
1
https://tma.us/
2
https://www.grandviewresearch.com/industry-analysis/video-surveillance-as-a-service-market-report
3
Security Operations Center Market Share, Size, Trends, Industry Analysis Report, 2024 - 2032
4
https://www.ibisworld.com/united-states/market-research-reports/security-services-industry/
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-R, 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.radcam.ai, 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.
###
Steve
Reinharz
949-636-7060
@SteveReinharz
v3.24.3
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