If you are interested in businesses powered by AI then the Artificial Intelligence Technology Solutions Inc (OTC:AITX) stock could be worth looking into. On Wednesday the company came into focus after it made an announcement with regards to new business. In this feature, we take a closer look into the development.
New Contract
The company announced that along with its subsidiary RAD (Robotic Assistance Devices Inc) it had managed to bag a new contract for as many as six RIO 360 Solar Powered security trailers. In the news release, Artificial Intelligence Technology Solutions noted that the order had been secured through one of its authorized dealers and had been placed by a municipality based out of the South Eastern region of the United States. It remains to be seen if the news about a new order leads to any traction for the stock over the coming days or not.
Further Details
The company had made positive announcements last week as well and the latest development managed to build on the momentum gained by Artificial Intelligence Technology Solutions on the deal making front. It was also a demonstration of the company’s continued success in moving into new markets in the United States.
CEO Quote
“RIO 360 is winning when in competitive situations because it’s simply superior in so many ways” said Steve Reinharz, CEO/CTO of AITX and RAD. “Designed to provide comprehensive site coverage, the mobile security unit combines AI-powered analytics and automated deterrence features, making it an ideal choice for municipalities and large-scale deployments.”
