TOKYO, Nov. 08, 2016 (GLOBE NEWSWIRE) -- FRONTEO, Inc. (“FRONTEO” or the “Company”) (NASDAQ:FTEO) (TSE:2158), a provider of big data analysis services utilizing artificial intelligence (“AI”), and Japan Third Party Co., Ltd. ( “JTP”), an IT education company with 29 years’ experience, today announced that in December 2016, they will provide the second phase of the curriculum on the Lit i View PATENT EXPLORER (“PATENT EXPLORER”), an intellectual property strategy support system utilizing AI. The curriculum is jointly developed by FRONTEO and JTP to enable users expertly use AI in practical applications.
In the previously announced first phase of the expert skill training program, the two companies plan to begin providing the “AI KIBIT Initiation into Lit i View AI Sukedachi Samurai” curriculum on November 25, 2016. This curriculum enables non-IT personnel to leverage AI for problem-solving in the fields of sales, marketing and consulting.
In the second phase, the two companies have developed the “AI KIBIT Initiation into Lit i View PATENT EXPLORER” curriculum, which enables the personnel responsible for intellectual property in enterprises to learn how to utilize AI. The curriculum combines the PATENT EXPLORER system for patent analysis incorporating FRONTEO's KIBIT AI engine and the know-how that JTP has accumulated in technology education.
PATENT EXPLORER has been utilized by major manufacturers as a system to significantly improve the efficiency of patent analysis, such as prior art search and invalidity search. Leveraging the expertise in these fields, the curriculum enables the personnel responsible for intellectual property in enterprises to learn how to perform analysis for more prompt and precise investigations, how to create teacher data and how to read analysis results through practical lessons on model cases.
By providing AI expert skill training programs, FRONTEO and JTP believe they can increase the number of AI experts who are able to utilize data buried in enterprises, improve white collar productivity, conduct risk management and find new business opportunities. There are plans to expand options such as the timing of training and the way it is provided to further accelerate the utilization of AI in Japanese enterprises and organizations.
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, 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 AI 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.
About Japan Third Party Co., Ltd.
Japan Third Party (“JTP”) is a group of engineers specialized in IT technology support for foreign IT companies aiming to expand into the Japanese and Asian markets. The company is aggressively advancing into new business fields such as robotics AI, cloud computing, IOT and life sciences by taking advantage of the professional expertise developed through its 29 years of experience of supporting foreign IT companies. It has also been training IT engineers in a broad range of fields, including AI, through its education business, which has been in operation for more than 20 years.
Headquarters: 14th floor, Gotenyama Trust Tower, 4-7-35 Kitashinagawa, Shinagawa Ward, Tokyo
Foundation date: October 31, 1987
Representative: Yutaka Mori, president and CEO
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 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 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 FRONTEO'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: 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.
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