Artificial Intelligence Technology Solutions, Inc.
Detroit, Michigan,, Dec. 28, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients, today along with its wholly owned subsidiary, Robotic Assistance Devices Inc. (RAD), has released the results of its 2022 Workforce Diversity Survey. As in previous years, the survey provides an in-depth summary of the demographic data of the Company’s full-time workforce. All data is for calendar year 2022 and is reflective as of December 22, 2022.
“Since our founding, we have been committed to building and promoting a workforce that reflects the diversity of the US, Canada and other regions our team resides and works,” said Steve Reinharz, CEO of AITX. “We have made great progress, but there is more work to be done. Together, we can and will continue to foster an environment the best represents all people – one that makes all people feel welcomed, heard, and valued.”
Key findings of AITX’s 2022 Workforce Diversity Survey include:
- The workforce is composed of a growing percentage of people of color (approx. 49.3 percent), with 31.5 percent of employees identifying as East Asian, South Asian, or Southeast Asian.
- Since June of 2021, racially and ethnically diverse employees in the workforce have increased from 44.4 percent to 54.8 percent.
- Representation of women in the Company’s workforce increased 24 percent since June of 2021.
The survey report looks at the racial, ethnic, and gender breakdown of the Company’s global workforce. “As AITX and RAD continues its recovery from the pandemic, we see improvement in the diversity of our workforce, specifically, almost ten percent increase in the number of racially and ethnically diverse employees in the workforce,” said Mark Folmer, President of RAD. “This is a critical step forward, and we are encouraged by the progress that we’ve made thus far but recognize that we still have work to do to build a fully representative workforce.”
AITX and its three subsidiaries collectively have 85 employees spread across 7 departments, sales, marketing, hardware development, software development, production, client services, and administration.
AITX through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide a 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 this tremendous costs 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.
CAUTIONARY DISCLOSURE ABOUT 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 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 news 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: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. No information contained in this news release should be construed as any indication whatsoever of the Company’s future stock price, revenues, or results of operations. Additionally, any industry data provided herein is of no predictive value regarding the future sale of the Company’s products. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.
About Artificial Intelligence Technology Solutions (AITX)
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-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 staffs 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.stevereinharz.com, www.radsecurity.com, www.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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- Artificial Intelligence Technology Solutions, Inc.
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