TOKYO, March 03, 2016 (GLOBE NEWSWIRE) -- UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) ("UBIC" or "the Company"), a leading provider of artificial intelligence (AI)-based big data analysis services, announced today that it has enhanced Lit i View PATENT EXPLORER, by equipping it with additional functions to enable users to find and retrieve relevant documents from a patent database. These enhancements should drastically improve the efficiency of patent analysis work. Lit i View PATENT EXPLORER is an intellectual property strategy support system that uses UBIC’s proprietary “KIBIT” artificial intelligence (AI) engine.
UBIC co-developed PATENT EXPLORER with Toyota Technical Development Corporation and started providing it to customers on October 29, 2015. PATENT EXPLORER drastically improves the efficiency of patent analysis work by a factor of as much as 330*1, as demonstrated by its average testing results during the development phase. As PATENT EXPLORER is recognized as superior to conventional search techniques in terms of analysis efficiency, accuracy and comprehensiveness, an increasing number of companies are introducing it.
The additional functions announced today enable document search and data acquisition concerning the following patent-related documents:
- Publication of unexamined patent applications
- Publication of PCT applications
- Domestic re-publication of PCT publications
- Publication of granted patent applications
Access is possible for documents published between January 2004 and January 2016 with respect to all document types. Documents published between 1993 and 2003 are expected to be incorporated on or around March 15, 2015.
When companies used the previous version of PATENT EXPLORER, they were required to acquire external data that they wanted to analyze and input it into PATENT EXPLORER. UBIC has now developed a cloud-based patent document database that allows PATENT EXPLORER users to find necessary data. As a result, the lead-time required to begin patent analysis has been significantly reduced.
In order to enable users to create and internally share a data set concerning analyzed patents, PATENT EXPLORER is also equipped with functions to designate data as appropriate or inappropriate for disclosure and to enable data addition or deletion through sharing.
PATENT EXPLORER features the ability to analyze a vast volume of data through a unique machine learning technique known as “landscaping”, based on a small volume of teaching data fed into the KIBIT AI engine and that quickly sorts documents through scoring. Since UBIC started providing PATENT EXPLORER, the number of companies which have decided to introduce it or use it on a trial basis has been steadily increasing. The addition of these new functions is expected to encourage intellectual property and research and development divisions of companies and organizations to introduce it by improving its convenience and usefulness.
*1: The average data at the time of development.
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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