TOKYO, Dec. 17, 2015 (GLOBE NEWSWIRE) -- UBIC, Inc. (Nasdaq:UBIC) (TSE:2158), a leading provider of international litigation support and big-data analysis services, announced today that it will use its KIBIT artificial intelligence (AI) engine to support some of the wholesale banking operations of The Bank of Tokyo-Mitsubishi UFJ, Ltd ., including UBIC’s proprietary landscaping technology.
The KIBIT AI engine incorporates human beings’ tacit knowledge and intuitions, and assigns scores to analyzed text data according to relevance. Through this advanced information analysis, it is possible to extract relevant information with higher speed and greater accuracy than from a data search performed by humans.
KIBIT’s scoring results are analyzed by Lit i View AI Sukedachi Samurai, a business data analysis support system, for indications of business risks and opportunities, which, if detected, will be reported as data to the humans running the tests. In this way, KIBIT helps users realize opportunities and mitigate risks.
The introduction of KIBIT by The Bank of Tokyo-Mitsubishi UFJ, Ltd . is intended to help the bank analyze textual data accumulated through some of the bank’s wholesale banking operations. The bank decided to implement this trial introduction because it is expected not only to improve operational efficiency but also to enhance financial services as it relates to resolving customers’ problems and presenting new solutions.
Through this project, UBIC will further improve AI-based services in the field of finance.
KIBIT is an AI engine developed by UBIC. 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 UBIC, Inc.
UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) supports the analysis of big data based on behavior informatics by utilizing its technology, "KIBIT". UBIC's KIBIT technology is driven by UBIC AI based on knowledge acquired through its litigation support services. The KIBIT incorporates experts' tacit knowledge, including their experiences and intuitions, and utilizes that knowledge for big data analysis. UBIC continues to expand its business operations by applying KIBIT to new fields such as healthcare and marketing.
UBIC 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. UBIC 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.
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 UBIC expects to manage this year and the potential uses for UBIC's new service in intellectual property-related litigation, contain forward-looking statements. UBIC 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 UBIC'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: UBIC's goals and strategies; UBIC's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, UBIC's services; UBIC's expectations regarding keeping and strengthening its relationships with customers; UBIC'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 UBIC provides solutions and services. Further information regarding these and other risks is included in UBIC's reports filed with, or furnished to the Securities and Exchange Commission. UBIC 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 UBIC undertakes no duty to update such information, except as required under applicable law.
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