FRONTEO’s AI KIBIT Adopted by Yokohama Bank
04 Aprile 2017 - 3:00PM
FRONTEO, Inc. (“FRONTEO”) (NASDAQ:FTEO) (TSE:2158), a leading
provider of artificial intelligence (AI) based big data analysis
services, announced today that Yokohama Bank has introduced KIBIT,
the AI engine developed by FRONTEO, for the analysis of interview
transcripts with its customers.
Yokohama Bank is utilizing KIBIT to strengthen its
customer-centered banking. KIBIT will analyze interview transcripts
of conversations between branch officers and customers, which will
be important for the implementation of customer-centered banking.
By selecting topics for proposal activities based on their ranking
in the order of importance, KIBIT will enable Yokohama Bank to
provide both immediate responses to customer requests and effective
analyses.
A large volume of interview transcripts is produced every day at
branches of Yokohama Bank. Through the adoption of KIBIT, bank
officers can quickly grasp what they want to verify as the system
can display the results of analyses matching the details of the
transaction, such as transaction needs and points where care is
needed. In addition to improving operational efficiency, the
introduction of KIBIT also increases the comprehensiveness of the
examination of important transactions.
In October 2016, FRONTEO and Yokohama Bank started to work on a
proof of concept (PoC) trial for data based on interview
transcripts, and the two companies successfully found the data they
were looking for from a large volume of transcripts. In addition,
they discovered new ways to use big data that are only achievable
through AI. For example, by increasing KIBIT’s precision through
further learning and analyzing the transcripts in chronological
order, the bank is able to follow the customer’s conditions and
needs. At the time of the PoC, the efficiency of checking interview
transcripts improved by approximately four to fifteen times in
comparison to previous methods. The implementation of KIBIT at
Yokohama Bank will significantly reduce the time branch officers
spend on checking interview transcripts, and the bank will be able
to provide even better financial services to its customers by
increasing the frequency of branch officers’ visits with
customers.
FRONTEO was able to quickly introduce KIBIT from PoC to
operation. This is because KIBIT can perform analyses using only a
small amount of data, the content of its trials could be altered
easily, the trials can be performed from numerous perspectives, and
it is unnecessary to tune the parameters for the definitions of
words and the results.
Previously, Yokohama Bank has worked to improve the convenience
for its customers by combining ICT (Information and Communication
Technology) and financial technology with big data. By FY2018,
Yokohama Bank aims to expand the scope of its introduction of
KIBIT, improve the efficiency of branch officers’ confirmation of
interview transcripts, and use the time that this generates to
enhance points of customer contact. Furthermore, it is considering
expanding the use of KIBIT to areas such as the analysis of
corporate customers’ needs and the improvement of the quality of
call center operations.
About KIBITKIBIT 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
global_pr@fronteo.com or visit http://www.fronteo.com/global/.
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