Artificial Intelligence Technology Solutions, Inc. (AITX) is projecting a substantial boost in revenue for the year 2024. The global leader in AI-driven security and productivity solutions for enterprise clients has announced its sales forecast, based on its results for 2023. The company expects to see a significant increase in annual recurring revenue, potentially doubling its current tally of approximately $5 million.
Through its subsidiary Robotic Assistance Devices (RAD), AITX anticipates adding an additional $5.5 million in annual recurring revenue throughout 2024. This projection is considered conservative and is based on the utilization of existing sales resources as of January 2, 2024. If all orders are fully deployed and receive client acceptance, this would effectively double the revenue run rate for the company in 2024.
While the conservative estimate predicts a 2x increase in revenue run rate, AITX envisions an even more aggressive forecast of up to a 4x increase. This forecast demonstrates the company’s confidence in its ability to grow its business and meet the demands of its clients.
AI-driven security solutions have become increasingly essential for enterprise clients, as organizations prioritize protecting their assets and enhancing productivity. AITX is at the forefront of this technology, providing innovative and effective solutions that leverage artificial intelligence to tackle security challenges. The company’s success in generating substantial recurring revenue reflects the value it delivers to its clients and its position as a leader in the industry.
AITX’s forecast for a significant revenue boost in 2024 highlights the continued demand for AI-driven security solutions. As businesses recognize the importance of securing their premises and assets, they are turning to AITX and its subsidiary RAD for cutting-edge solutions that leverage the power of artificial intelligence.
The company’s commitment to utilizing existing sales resources and the successful deployment and acceptance of orders are crucial factors in achieving this projected growth. By capitalizing on its current momentum, AITX aims to further solidify its position as a global leader in AI-driven security and productivity solutions.
With its ambitious sales forecast and the potential for doubling its revenue run rate, AITX is poised for an impressive performance in 2024. As the company continues to innovate and deliver exceptional solutions to its clients, it is well-positioned to capitalize on the increasing demand for AI-driven security technologies.
Disclaimer: This article is based on the company’s sales forecast and projections and should not be considered as financial advice. Investors are encouraged to conduct their own research and analysis before making any investment decisions.
