Artificial Intelligence Technology Solutions Inc (OTCMKTS:AITX) is a worldwide player in artificial intelligence powered security and productivity products space and yesterday, the stock was back in focus against among investors following a key announcement.
On Wednesday, the company announced that its fully owned subsidiary company Robotic Assistance Devices Inc shipped its one hundredth ROSA device. That is a major milestone for the company and also for its subsidiary company. Hence, it was perhaps not a surprise that the Artificial Intelligence Technology Solutions was in play as well and ended the day with gains of as much as 6%.
In this context, it is important to point out that over the past months, its fully owned subsidiary company Robotic Assistance Devices has made considerable progress and shipped many of its products to a series of clients. More often than not, the news of fresh orders has led to a rally in the stock as well.
Steve Reinharz, who is the Chief Executive Officer of Robotic Assistance Devices, stated that the decision to move the production to the city of Detroit proved to be a positive. He stated that the production team at the company will now be able to meet the rising demand for the ROSA devices.