Jun 12 2017
FRONTEO Korea, Inc., a wholly-owned direct subsidiary of FRONTEO, Inc., a leading provider of global eDiscovery and big data analysis services utilizing artificial intelligence (“AI”) technology, was named as the silver award winner of the 2017 Asia-Pacific Stevie Awards.
More than 700 nominations from 22 countries in the Asia-Pacific region were submitted this year and the winners were presented with their awards in Tokyo, Japan on June 2, 2017.
The Stevie Awards, recognized as the Oscars of the business world, include the Asia-Pacific Stevie Awards, the American Business Awards, the International Business Awards, and the Stevie Awards for Women in Business. The Asia-Pacific Stevie Awards was created in 2013 to honor organizations and professionals’ achievements in innovation from 22 countries across the Asia-Pacific region.
FRONTEO Korea received the award in the ‘Innovative Use of Technology in Customer Service’ category based on its application of FRONTEO’s original AI technology “KIBIT” to reduce the massive cost of international litigations.
eDiscovery is a critical process in U.S. litigations that requires each party to submit electronic documents that are relevant to the litigation and it accounts for 50% of the total litigation cost. With a dramatic increase in the number of litigations, reducing the cost of litigation has become one of the most important issues faced by domestic companies. FRONTEO’s proprietary AI, KIBIT, is able to learn from experts’ judgment systems and analyzes a vast amount of data based on technologies related to machine learning. When applied to the eDiscovery procedure, KIBIT can learn from legal experts’ decision-making patterns and automatically identify litigation-relevant electronic documents from a massive amount of data. It is also able to read and analyze text at 4,000 times the speed of a human, which reduces the cost of litigation by up to 40%.
“We are extremely pleased and honored that our eDiscovery service utilizing AI technology has been recognized by one of the world’s premier business awards. FRONTEO is a leading provider of global eDiscovery services and we have a track record of successfully providing our services in more than 6,700 international litigations across seven countries, including Japan, the U.S., and South Korea. Going forward, we will continue to be at the forefront to help companies handle litigations more efficiently,” said Yongmin Cho, CEO of FRONTEO Korea, Inc.
Source: http://www.fronteo.com/