8-K: AITX's RAD Offers SelectBlur Software Free to Law Enforcement Agencies

Artificial Intelligence Technology Solutions' subsidiary, RAD, is providing its SelectBlur software at no cost to law enforcement agencies to help obscure faces in videos and images.

Summary

• Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), is offering its SelectBlur software to law enforcement agencies for free.
• SelectBlur is a desktop application that allows users to blur faces in video footage, enhancing privacy.
• The software operates on the desktop, eliminating the need for cloud processing and improving data security.
• This offer comes after news of the Murrieta Police Department using Lego images to obscure faces in booking photos.
• The typical monthly licensing fee for SelectBlur is $299 per user, which is being waived for law enforcement agencies.
• RAD aims to support law enforcement by providing cost-saving solutions and enabling them to allocate resources more efficiently.
• AITX, through RAD, is aiming to disrupt the $25 billion security and guarding services industry with its AI-driven solutions.
• RAD's solutions are designed to provide cost savings of 35%-80% compared to traditional manned security.
• RAD has a prospective sales pipeline of over 35 Fortune 500 companies and expects to convert these opportunities into recurring revenue.

Sentiment

Score: 8

Explanation: The document presents a positive development for the company, with a strategic move to offer free software to law enforcement, potentially leading to increased brand awareness and future sales. The company is also targeting large clients and has a strong sales pipeline.

Positives

• The offer of free SelectBlur software provides a cost-saving opportunity for law enforcement agencies.
• The software enhances privacy by blurring faces in videos.
• Local processing of video data improves security.
• RAD's solutions offer significant cost savings compared to traditional security methods.
• The company is actively pursuing a large sales pipeline with Fortune 500 companies.

Risks

• The document contains forward-looking statements which are not guarantees of future performance.
• The company makes no warranties as to the accuracy or completeness of the information provided.
• There is no obligation to provide additional updated information.

Future Outlook

RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream, with each Fortune 500 client having the potential for numerous reorders.

Management Comments

• Steve Reinharz, CEO/CTO of AITX and RAD, stated that it is their commitment to empower law enforcement with the most innovative technological solutions available.
• Steve Reinharz expressed a sense of duty to equip law enforcement with tools that enhance their capabilities and alleviate apprehension towards advanced AI technology.
• Troy McCanna, RAD's Chief Security Officer and former FBI agent, stated that SelectBlur is a lifeline for officers, offering a seamless solution to ease their workload and ensure the privacy and integrity of sensitive information.

Industry Context

This announcement highlights the growing need for privacy-enhancing technologies in law enforcement, particularly in response to evolving regulations and public concerns about surveillance. It also positions AITX and RAD as innovators in the security industry, leveraging AI to provide cost-effective solutions.

Comparison to Industry Standards

• The offer of free software to law enforcement is unusual, as most security software is sold on a subscription basis.
• The company is positioning itself as a disruptor in the security industry by offering AI-driven solutions that are significantly cheaper than traditional manned security.
• The company is targeting large Fortune 500 companies, which is a common strategy for technology companies looking to scale quickly.
• The company's focus on in-house development of AI-based analytics and software platforms is a differentiator in the market.

Stakeholder Impact

• Shareholders may view this as a positive development, potentially leading to increased revenue and market share.
• Law enforcement agencies will benefit from free access to privacy-enhancing software.
• Customers may see this as a sign of the company's commitment to innovation and social responsibility.

Next Steps

• RAD expects to convert its existing sales opportunities into deployed clients generating a recurring revenue stream.
• The company will continue to develop and market its AI-based solutions.

Key Dates

Keywords

SelectBlur, law enforcement, video blurring, privacy, security, AI, Robotic Assistance Devices, AITX, cost savings, surveillance