Security robots are autonomous or semi-autonomous machines designed to enhance security measures and surveillance in various premises. These robots utilize advanced technologies, including artificial intelligence, machine learning, sensors, cameras, and sometimes even facial recognition software, to monitor and protect spaces. They offer several advantages, including round-the-clock surveillance capabilities, consistent performance without fatigue, and the ability to navigate challenging terrains or areas that might be difficult for human security personnel to access.

As such, autonomous security robots are slowly emerging as the solution to the increasing security costs for protecting large premises since they have been shown the potential to save organizations up to 80% on security costs compared to manned guarding solutions. This not only bodes well for companies like Artificial Intelligence Technology Solutions (OTCPK:AITX) and Knightscope (NASDAQ:KSCP) but also means that an estimated 2.5 million law enforcement and security professionals can then focus on strategic decision-making and enforcement

For better context, AITX through its wholly owned subsidiary Robotic Assistance Devices (RAD) is a leading provider of Autonomous Security Robots (“ASRs”). The company also develops a suite of software solutions that interface with the robots once they are deployed to facilitate direct or remote monitoring, enhanced surveillance or customized interactivity on the ASRs. 

The robots use advanced algorithms and machine learning to identify potential security threats which means they can patrol an organization’s premises, scan for potential security threats, and respond to security incidents in real-time. The robots can recognize and track individuals, detect suspicious behavior, including gun detection, and alert security personnel when necessary. RAD stationary security robots (ROSA, RIO, AVA) can communicate and coordinate with mobile robots (RADDOG and ROAMEO) to patrol specific areas as a response to specific triggers, making them highly flexible and versatile security tools.

Artificial Intelligence Technology Solutions (OTCPK:AITX)

All elements of hardware and software design offered by Artificial Intelligence Technology Solutions are 100% designed, developed and owned by RAD which are offered on a recurring monthly subscription, typically with a minimum 12 month subscription contract. RAD’s solutions earn over 75% gross margin over the life of each deployed asset and over 50% gross margin when sold.

RAD solutions are unique in the fact they not only start with an AI-driven response with the easy ability to connect to manned response but its security robots are also scalable, which means that organizations can deploy more, or fewer robots based on their specific needs. Organizations can program the robots to patrol specific areas, respond to specific triggers.

The company’s goal is to disrupt and capture a significant portion of both the human security guard market which is valued at over $30 billion and the “physical security” market,  think video surveillance, access control, visitor management worth over $20 billion through its innovative RAD solution ecosystem.

Already, the company has bagged a Fortune Top 10 company and a number of other Fortune 500 companies with deployments in logistics, commercial real estate, healthcare, amusement, manufacturing and retail industries.

Just recently, the company caught the attention of Hollywood after it announced it had won a contract to furnish several of its robots to appear in a high-profile, major television network series. The prime-time television series, called ‘Stars on Mars’ with a viewership of almost 1 million features several AITX robots interacting with cast members.

The increasing acceptance of AITX’s robots has been reflected on the balance sheet over the past couple of quarters. In October 2022, AITX published strong financial results revealing that subscription revenue rose by 85% YoY to $228,000 in Q3. with a corresponding gross profit margin increase to 87%. As per the most recent quarter, the company reported a whopping 221% YoY gross profit increase to $293,697, illustrating AITX’s growth potential.

Knightscope (NASDAQ:KSCP) is a leading developer of autonomous security robots and blue light emergency communication systems. The company currently offers K1 stationery, K3 indoor and K5 outdoor machines. KSCP recently announced a new deployment at an Illinois casino property utilizing a K5 Autonomous Security Robot . Additionally, the Huntington Park (California) Police Department renewed their contract for the fifth consecutive year for its K5 ASR, which further illustrates the demand for security robot services. This follows an earlier announcement of a new deployment with a property management group in Chicago. A K5 ASR started patrolling the parking lot of a mixed-use facility with both retail and professional clients as tenants. This was the company’s second deployment in the City of Chicago in an area where crime, trespassing, vehicle break-ins, and catalytic converter thefts are at epidemic levels.

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