FRONTEO’s KIBIT AI Engine Adopted at Meiji Yasuda Life Insurance Company in Initiative to Improve the Efficiency of Internal...
April 24, 2018
FRONTEO’s KIBIT AI Engine Adopted at Meiji Yasuda Life Insurance Company in Initiative to Improve the Efficiency of Internal Operations
TOKYO, April 24, 2018 -- FRONTEO, Inc. (“FRONTEO”) (NASDAQ: FTEO) (TSE: 2158), a leading provider of artificial intelligence (“AI”) based big data analysis services, announced that Meiji Yasuda Life Insurance Company has adopted KIBIT, an AI engine independently developed by FRONTEO, in an initiative to test improvements in the efficiency of internal operations.
Since October 2017, Meiji Yasuda Life Insurance Company and FRONTEO have developed and discussed a proof of concept for operations in which KIBIT can be utilized. They have been able to confirm that the concept delivers highly effective results for the efficient extraction of documents that are being searched for in the process of document analysis of internal operations in certain fields.
The mechanism of FRONTEO’s KIBIT AI technology learns the feature of text by reading the text to be found in its entirety instead of just searching for keywords. Because it can find text with a similar feature, KIBIT makes it possible through analysis to extract contents that convey the same kind of meaning even if different words are used. Since KIBIT can perform a single check for multiple perspectives by scoring each section of text individually and ranking the documents to be checked, humans can delineate whether to perform a check by setting the priority level for how far to check. Because of the speed with which KIBIT reads and analyzes documents, it can do so up to about 4,000 times faster(according to our research) than when humans examine them visually.
To improve customer service, Meiji Yasuda Life Insurance Company had previously been using keyword-based searches to perform the work of extracting and classifying items that matched certain conditions from the large volume of data from records of communication with customers. In the current initiative, they are also considering the use of the KIBIT AI engine for the revision of operations. Specifically, the method of classification will be changed to understanding the content of text itself and extracting it for different purposes, so that classification can be performed more efficiently than by relying on keywords. This measure will make it possible to reduce the time required to verify and check the content of text manually.
FRONTEO will continue to provide a wide range of knowledge and support as Meiji Yasuda Life Insurance Company starts the trial adoption of KIBIT.
About KIBIT KIBIT is an AI engine developed by FRONTEO. KIBIT is a word coined by combining "kibi," a Japanese word meaning "subtlety," and "bit," the smallest unit of digital information, in order to indicate an AI capable of understanding the subtle elements of human behavior and personality.
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.
For more information about FRONTEO, contact email@example.com or visit http://www.fronteo.com/global/.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the amount of data that FRONTEO expects to manage this year and the potential uses for FRONTEO's new service in intellectual property-related litigation, contain forward-looking statements. FRONTEO may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about FRONTEO's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: FRONTEO's goals and strategies; FRONTEO's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, FRONTEO's services; FRONTEO's expectations regarding keeping and strengthening its relationships with customers; FRONTEO's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where FRONTEO provides solutions and services. Further information regarding these and other risks is included in FRONTEO's reports filed with, or furnished to the Securities and Exchange Commission. FRONTEO does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and FRONTEO undertakes no duty to update such information, except as required under applicable law.
CONTACT: FRONTEO Global PR