Artificial Intelligence Technology Solutions, Inc. Reports Significant 2024 Growth and Outlines Strategic Plans for 2025
Detroit, Michigan – December 31, 2024 – Artificial Intelligence Technology Solutions, Inc. (AITX), a global leader in AI-driven security and productivity solutions for enterprise customers, has announced remarkable growth and key milestones achieved during the 2024 calendar year. In a video message released by CEO Steve Reinharz, the company highlighted its sustained revenue growth, technological advancements, and workforce expansion, positioning itself for continued success in 2025.
Robust Financial Growth and Revenue Performance
For the third consecutive year, AITX recorded exponential increases in both total revenue and recurring monthly revenue. This consistent uptrend underscores the company’s ability to scale operations efficiently while delivering significant value to its clientele. These financial improvements have been transparently documented in quarterly filings, with the full fiscal year 2025 results expected to be submitted to the SEC following the close of the fiscal year on February 28, 2025.
Transition to 4th Generation Technology Platform
A key technological breakthrough in 2024 was AITX’s successful shift to its fourth-generation technology platform. This involved transitioning from Intel to NVIDIA hardware, a complex process that entailed substantial development and rigorous testing. The new platform offers significantly enhanced reliability, faster processing speeds, simplified scalability, and a reduction in the number of hardware components. These improvements have not only elevated product performance but have also streamlined production, enabling faster deployments and better customer satisfaction.
Workforce Expansion and Product Development
AITX’s team grew to over 100 employees in 2024, reinforcing the company’s commitment to innovation and operational excellence. This growth bolstered the company’s ability to develop both software and hardware solutions more rapidly, exemplified by the expedited release of their new product, RADCam™. CEO Reinharz praised the team’s dedication, citing minimal employee turnover and a shared focus on advancing the company’s visions.
Introduction of RADCam: Expanding into Residential Security
Demonstrating adaptability and market responsiveness, AITX launched RADCam in 2024, a novel AI-powered security solution designed specifically for residential users. RADCam aims to revolutionize home safety and security by offering enhanced functionality. Despite minor deployment delays intended to ensure product readiness, shipments are scheduled to begin within weeks. The company plans a vigorous marketing campaign and intends to expand the residential product line by creating new form factors based on RADCam’s architecture, which will also help to grow recurring revenue streams.
Strengthening Enterprise Sales Operations
AITX’s enterprise sales team made significant gains in 2024 by optimizing its structure to handle the growing and diversifying product portfolio. The increased cohesion and effectiveness of the sales force have played a critical role in driving the company’s rapid growth. Looking forward, AITX is preparing to further expand its sales team to meet rising demand for flagship solutions like RADCam and the popular RIO™ solar-powered mobile security units. With a robust pipeline of prospects, including over 35 Fortune 500 companies, AITX is poised to sustain its upward trajectory well into the future.
A Vision for 2025 and Investor Engagement
As the company closes a transformative year, CEO Steve Reinharz emphasized the importance of transparency and communication with investors and stakeholders. Reinharz invited all interested parties to attend the AITX Investor Presentation scheduled for January 15, 2025, at 4:00 PM Eastern Time. This event will provide deep insights into AITX’s strategic plans and anticipated developments. The presentation will be streamed live on the company’s social media platforms.
Company Overview: Revolutionizing Security Services with AI
AITX operates primarily through its subsidiary, Robotic Assistance Devices, Inc. (RAD-I), which is pioneering AI-powered solutions within the nearly $50 billion U.S. security and guarding industry. RAD-I’s innovative Solutions-as-a-Service business model replaces or supplements traditional manned security with stationary and mobile robotic platforms, driving cost savings between 35% and 80% compared to conventional approaches. All AI analytics and software are developed internally, positioning the company at the forefront of security technology innovation.
RAD-I’s extensive sales pipeline includes numerous Fortune 500 companies and other potential clients, positioning it for continued expansion as existing opportunities convert into recurring revenue generating deployments.
Broad Industry Applications and Next-Generation Solutions
AITX’s various subsidiaries—including RAD-I, RAD-R, RAD-M, and RAD-G—offer cutting-edge robotic products that help organizations improve efficiency, increase return on investment, and enhance overall security operations. These AI-driven technologies simplify patrolling and guard services, allowing experienced personnel to focus on higher-level strategic tasks while gaining improved situational awareness at a significantly reduced cost. The company’s solutions cater to multiple sectors, including enterprise, government, transportation, critical infrastructure, education, and healthcare.
Forward-Looking Statements and Financial Projections
The company cautions that certain forward-looking statements included in this communication are subject to risks and uncertainties that could cause actual results to differ materially. Financial projections provided by management are based on internal assumptions and have not been audited or reviewed by independent third parties. Accordingly, these projections should not be considered guarantees of future performance.
Contact Information
For further details, contact:
Steve Reinharz
Phone: 949-636-7060
Twitter: @SteveReinharz
Artificial Intelligence Technology Solutions, Inc. continues to lead the AI-powered transformation of the security services market, driven by innovation, proven operational success, and a clear strategic vision heading into 2025.