FRONTEO Korea Named as the Silver Award Winner of the 2017 Asia-Pacific Stevie Awards for Its AI Technology ‘KIBIT’
05 Junio 2017 - 8:00AM
FRONTEO Korea, Inc. ("FRONTEO Korea"), a wholly-owned direct
subsidiary of FRONTEO, Inc. (“FRONTEO”) (NASDAQ:FTEO)
(TSE:2158), a leading provider of global eDiscovery and big data
analysis services utilizing artificial intelligence (“AI”)
technology, was named as the silver award winner of the 2017
Asia-Pacific Stevie Awards. More than 700 nominations from 22
countries in the Asia-Pacific region were submitted this year and
the winners were presented with their awards in Tokyo, Japan on
June 2, 2017.
The Stevie Awards, recognized as the Oscars of the business
world, include the Asia-Pacific Stevie Awards, the American
Business Awards, the International Business Awards, and the Stevie
Awards for Women in Business. The Asia-Pacific Stevie Awards was
created in 2013 to honor organizations and professionals’
achievements in innovation from 22 countries across the
Asia-Pacific region.
FRONTEO Korea received the award in the ‘Innovative Use of
Technology in Customer Service’ category based on its application
of FRONTEO’s original AI technology “KIBIT” to reduce the massive
cost of international litigations.
eDiscovery is a critical process in U.S. litigations that
requires each party to submit electronic documents that are
relevant to the litigation and it accounts for 50% of the total
litigation cost. With a dramatic increase in the number of
litigations, reducing the cost of litigation has become one of the
most important issues faced by domestic companies. FRONTEO’s
proprietary AI, KIBIT, is able to learn from experts’ judgment
systems and analyzes a vast amount of data based on technologies
related to machine learning. When applied to the eDiscovery
procedure, KIBIT can learn from legal experts’ decision-making
patterns and automatically identify litigation-relevant electronic
documents from a massive amount of data. It is also able to read
and analyze text at 4,000 times the speed of a human, which reduces
the cost of litigation by up to 40%.
“We are extremely pleased and honored that our
eDiscovery service utilizing AI technology has been recognized by
one of the world’s premier business awards. FRONTEO is a leading
provider of global eDiscovery services and we have a track record
of successfully providing our services in more than 6,700
international litigations across seven countries, including Japan,
the U.S., and South Korea. Going forward, we will continue to be at
the forefront to help companies handle litigations more
efficiently,” said Yongmin Cho, CEO of FRONTEO Korea, Inc.
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
Korea, Inc. FRONTEO Korea, Inc. (“FRONTEO Korea”) is a
wholly-owned direct subsidiary of FRONTEO, Inc. (“FRONTEO”) a
publicly traded global technology and services company specializing
in artificial intelligence (“AI”), forensic, and eDiscovery
service. Driven by the unique FRONTEO AI technology KIBIT,
companies are able to proactively and predictively assess fraud,
data leakage and pre-crime events alongside the eDiscovery
lifecycle and gain a deep understanding of their data. FRONTEO has
extensive eDiscovery and forensic experience and expertise with
information documented in Chinese, Japanese and Korean languages as
well as English and utilizes that expertise for clients involved in
cross-border litigation, administrative proceedings and internal
investigation, including those related to antitrust investigations,
intellectual property litigation, the Foreign Corrupt Practice Act
and product liability investigations. FRONTEO has assisted in more
than 6700 clients of administrative and legal proceedings in the
United States, including Department of Justice, International Trade
Commission and Securities and Exchange Commission investigations,
and corporate investigations in South Korea, Japan, China and
Singapore. For more information visit www.fronteo.com/kr.
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
global_pr@fronteo.com or visit http://www.fronteo.com/global/.
Safe Harbor StatementThis
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
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made by its officers, directors or employees to third parties.
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about FRONTEO's beliefs and expectations, are forward-looking
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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
global_pr@fronteo.com
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