NEW YORK, January 8, 2019 – FRONTEO, Inc. (“FRONTEO”) (NASDAQ: FTEO) (TSE: 2158), a leading provider of artificial intelligence (“AI”) based big data analysis services, is pleased to announce that FRONTEO’s AI-based patent search and analysis system “Patent Explorer 19” has been selected as a finalist for the Legaltech New York 2019’s “Product Innovation Competition.” Other finalists include LexisNexis, Tikit, H5, OneTrust, Lex Machina and Fastcase. Through an independently developed AI engine “KIBIT” which leverages natural language processing technology, FRONTEO is applying the latest innovations in artificial intelligence to make patent search smarter, faster and more relevant.
The competition brings together best in legal technology products and services over the past year, and FRONTEO’s Patent Explorer 19 has been nominated as a finalist (Top 7) amongst the 25 products and services from the solution vendors around the globe. The judging criteria are: 1) If the solution is distinctive or fundamentally different from existing products 2) If it enhances efficiency and/or productivity 3) If there is a clear market need 4) Design 5) Functionality 6) Applicability.
Product Innovation Competition
■About Legaltech New York 2019
Date: January 28 – 31, 2019
Venue: New York Hilton Midtown (1335 Avenue of the Americas, New York 10019)
Overview: Legaltech is the largest and most important legal technology event of the year. Legaltech® provides an in-depth look at what the technological world has in store for you and your practice AND offers an expansive exhibit floor with the most extensive gathering of innovative products designed to meet your current and future technology needs.
Audience：20,000+ visitors (estimated count)
About Patent Explorer 19
Patent Explorer enables scoring (assigning points to) the data in a short period of time and sorting of documents by teaching the KIBIT AI engine the content of the documents you wish to find (e.g., invention proposals, patent documents you wish to invalidate) as “training data,” analyzing vast amounts of data based on a small amount of training data. For more information, please see “Patent Explorer 19” press release:
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 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.
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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.
CONTACT: FRONTEO Global PR