FRONTEO and ISID Begin Proof of Concept Trial Using KIBIT AI Engine to Analyze Hokuriku Bank Text Data
31 Agosto 2017 - 3:00PM
FRONTEO, Inc. (“FRONTEO” or the “Company”) (Nasdaq:FTEO)
(TSE:2158), a leading provider of artificial intelligence ("AI")
based big data analysis services, and Information Services
International-Dentsu, Ltd. (“ISID”) announced that it has commenced
a joint proof of concept trial (the “Trial”) with The Hokuriku
Bank, Ltd. (“Hokuriku”) utilizing KIBIT, a proprietary artificial
intelligence (“AI”) engine developed by FRONTEO, to increase the
sophistication of applications of text data in Hokuriku’s business.
The goal of the Trial is to establish a system
that will enable Hokuriku to fine-tune its client services and
implement a client-based marketing system that utilizes KIBIT’s
analysis to categorize and precisely extract data mined from a
large volume of records on interactions between Hokuriku employees
and clients in a short period of time, and to determine factors
such as whether proposals to clients are appropriate and whether
appropriate explanations are provided when marketing financial
instruments. The Trial is expected to take about two months and
intends to verify the validity of the analytical results of KIBIT
and suggest possibilities of implementing KIBIT into Hokuriku’s
businesses.
As the developer of KIBIT, FRONTEO will be
responsible for optimizing KIBIT’s efficiency in the extraction of
data, providing support in producing the data to feed into the AI,
presenting training on how to operate KIBIT, and providing all
other aspects of technical support during the Trial. ISID, with its
expertise gained from providing solutions that facilitate
communication-building with clients to Hokuriku and many other
regional financial institutions, will support the production of
training data*, evaluate the analytical results, and provide other
types of support aimed at implementing KIBIT under real business
conditions.
The following is an outline of the Trial:
- Analysis of client proposal interaction
recordsHokuriku is promoting a client support campaign
throughout its bank as an initiative to encourage employees to
always take the clients’ best interests into consideration. Each
interaction between employees and clients are categorized into
successful cases or cases that need additional support. Hokuriku’s
headquarters then follows up on the latter category of cases and
efforts are made to ensure that Hokuriku’s services meet the needs
of its clients. However, some cases are often overlooked due to the
high volume of the records of these interactions. The goals of the
Trial are to use KIBIT to verify whether categorization and
extraction from all records can be achieved within a short amount
of time and to create a system that will enable Hokuriku to
seamlessly follow up on cases.
- Monitoring records of interactions concerning marketing
of financial instrumentsHokuriku is monitoring the status
of its client-based initiatives by analyzing records of
interactions concerning the marketing of investment trusts, life
insurance, and other financial instruments to determine whether the
marketing is well-matched to the needs and objectives of the client
and whether the instruments are properly explained. Bank personnel
in Hokuriku currently spend an enormous amount of time verifying
these factors for each transaction, and the Trial will seek to
prove that using KIBIT to analyze data from records of interactions
will bring higher accuracy in a short amount of time.
Based on the results of the Trial, FRONTEO and
ISID will make further improvements to the accuracy of the
analytical results, develop a plan to implement KIBIT within
Hokuriku’s operations based on current business conditions, and
provide necessary support. FRONTEO and ISID also plan to jointly
develop new services that combine the technology and solutions of
the two companies based on the experience gained from the
Trial.
*training data: In this Trial, text that KIBIT
will extract from the records of past interactions regarding
certain topics is selected to teach the AI. KIBIT is able to
perform analysis with minimal data, ranging from several
transactions to dozens of transactions.
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/.
About Information Services
International-Dentsu, Ltd. (ISID) Since its
establishment in 1975, ISID has provided comprehensive services as
a business partner for its clients, from consulting services to
system planning, design, development, operations and maintenance
support. ISID aims to be an “IT Solution Innovator” and is
proactively developing business operations in a wide range of
fields, including solutions for financial institutions, product
development solutions, group management and consolidated
accounting, human capital management (human resource, personnel,
payment and performance management), ERP, marketing, and
cloud-based services.
For more information about ISID, contact
g-pr@isid.co.jp or visit https://www.isid.co.jp/english/.
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
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Source: FRONTEO
CONTACT: FRONTEO Global PR
global_pr@fronteo.com
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