FRONTEO Launches Proof of Concept Trial Using KIBIT AI Engine to Analyze and Extract Desired Information from Fukui Bank’s Text
March 22, 2018
Targets AI use in realizing more client-based business operation through big data analysis of financial instrument marketing interactions
TOKYO, March 22, 2018 -- FRONTEO, Inc. (“FRONTEO”) (NASDAQ: FTEO) (TSE: 2158), a leading provider of artificial intelligence (“AI”) based big data analysis services, announced that it has commenced a proof of concept trial (the "Trial") with The Fukui Bank, Ltd. ("Fukui") utilizing KIBIT, a proprietary artificial intelligence ("AI") engine developed by FRONTEO, to analyze text data in Fukui’s business.
The goal of the Trial is to confirm the possibility of building a framework that will enable Fukui to fine-tune its client services and support Fukui in realizing more client-based business operations by determining whether data mined can be extracted precisely from a large volume of records on interactions between Fukui employees and clients through KIBIT's analysis and, in particular, to determine whether appropriate explanations are provided when marketing financial instruments. The Trial is expected to take approximately two months, from March to April 2018.
Checking that explanations during financial instrument marketing conform to laws and regulations as well as principles of suitability is difficult using solely keyword searches, as these are highly abstract determinations that require both precise searches and an exhaustive scope to identify potential issues without omission. The Trial will consist of FRONTEO (i) creating the training data that forms the basis on which the AI will learn to make decisions, (ii) verifying the precision of analysis results, and (iii) submitting an analysis report.
Fukui aims to increase customer convenience through bank-wide improvement of financial instrument services and bank operation sophistication. In addition to supporting this effort, using the expertise obtained in past implementations of KIBIT in the operations of other financial institutions, FRONTEO is expected to be able to produce results and improvements through the Trial in a relatively short amount of time, and assist Fukui in their efforts to implement KIBIT in their operations.
About FRONTEO, Inc.
FRONTEO, Inc. (“FRONTEO”) (NASDAQ: FTEO) (TSE: 2158) supports the analysis of big data based on behavior informatics by utilizing its technology, "KIBIT". FRONTEO's KIBIT technology is driven by FRONTEO artificial intelligence based on knowledge acquired through its litigation support services. KIBIT incorporates experts' tacit knowledge, including their experiences and intuitions, and utilizes that knowledge for big data analysis. FRONTEO continues to expand its business operations by applying KIBIT to new fields such as healthcare and marketing. FRONTEO was founded in 2003 as a provider of e-discovery and international litigation support services. These services include the preservation, investigation and analysis of evidence materials contained in electronic data, and computer forensic investigation. FRONTEO provides e-discovery and litigation support by making full use of its data analysis platform, "Lit i View", and its Predictive Coding technology adapted to Asian languages. The company name was changed from UBIC, Inc. to FRONTEO, Inc. as of July 1, 2016.
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Safe Harbor Statement
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CONTACT: FRONTEO Global PR