--To the press -
FRONTEO succeeds in shortening review time by utilizing AI review tool "KIBIT Automator" for investigation of US bankruptcy proceedings
Masahiro Morimoto, President and CEO
東京 都 港区 港 南 2-12-23
(Code number: 2158 TSE Mothers)
FRONTEO Inc. (Headquarters: Minato-ku, Tokyo, President: Masahiro Morimoto, hereinafter FRONTEO) is a review tool "KIBIT Automator" equipped with FRONTEO's proprietary AI "KIBIT" in investigating bankruptcy law litigation cases in the United States. We would like to inform you that we have contributed to the efficiency of the document review process.
Bankruptcy filings under Chapter 11 of the Bankruptcy Code (equivalent to Japan's Civil Rehabilitation Law) are increasing in the United States against the backdrop of the spread of new coronavirus infections.According to the U.S. Federal Court Secretariat, approximately 2020 bankruptcy filings were filed in the business domain from July 7 to June 2021.1), Large-scale bankruptcies also occurred one after another.
This time, FRONTEO has supported an investigation into a lawsuit filed by a financial institution over asset consolidation filed by an energy-related company in the United States.In a civil lawsuit in the United States, a procedure "discovery" is required to disclose related information and materials to the other party and to collect testimony before proceeding to the trial.Among them, the process called "document review" to find related information is said to account for about 7% of the time and cost involved in the discovery process.In recent years, with the rapid increase in the amount of data handled by companies, etc., the amount of data to be investigated in these processes has also increased, and it is necessary to find necessary information from a huge amount of data within a limited time. , Utilization of tools such as AI is indispensable.
By utilizing KIBIT Automator in this project, FRONTEO has realized a reduction in the time required for discovery and efficiency (15% reduction compared to the case where all documents are manually confirmed by humans).
KIBIT Automator is highly evaluated for being able to find "data you want to find" in a short time from a huge amount of data, and it is widely used in litigation cases in various fields such as competition law, export control law violation, personal information leakage, etc. in the United States. It has been adopted. FRONTEO will continue to promote the sophistication of AI solutions, reduce the burden and efficiency of corporate proceedings in international proceedings, and contribute to the early resolution of problems.
1) United States Courts: US Bankruptcy Courts – Business and Nonbusiness Cases Filed by Chapter of the Bankruptcy Code – During the 12-Month Period Ending June 30 2021, https://www.uscourts.gov/sites/default/files/data_tables/bf_f2_0630.2021.pdf[Confirm 2021.10.11]
■ About KIBIT Automator URL:URL: https://legal.fronteo.com/products/kibit-automator/
"KIBIT Automator" improves the efficiency of document review work in electronic discovery (e-discovery), reduces the burden on workers, and reduces costs, among other discoveries required in the trial procedure of US civil proceedings. An AI tool developed for the purpose, released in March 2019.Applying the research method used in discovery, AI is used to examine and analyze large-capacity e-mails and electronic files that are evidence materials.In recent years, it has been utilized as one of the important processes of digital forensic surveys in the surveys of third-party committees in Japan, and it is expected to respond to the short-term information disclosure required by companies.
■ About KIBIT URL:https://www.fronteo.com/products/kibit/
"KIBIT" is an artificial intelligence that analyzes text without relying on keywords, using a unique machine learning algorithm that reproduces the "tacit knowledge" possessed by specialists and business experts.With high natural language processing technology, high-precision analysis can be performed in a short time with a small amount of teacher data, contributing to operational efficiency and sophistication in fields such as fraud investigation, intellectual property strategy, skill transfer, and risk prediction. doing.
■ About FRONTEO URL:https://www.fronteo.com/
FRONTEO uses the self-developed AI engine "KIBIT" and "Concept Encoder" specializing in natural language processing to extract meaningful and important information from a huge amount of text data to support corporate business. , A data analysis company. Since its establishment in August 2003, it has been expanding globally to Japan, the United States, South Korea, and Taiwan, focusing on legal tech businesses such as "e-discovery (electronic discovery)" and "digital forensic investigation" that support international litigation of companies. Has been deployed.Based on the AI technology cultivated in the legal tech business, we expanded the business field to the life science field, business intelligence field, and economic security from 8, and by using AI to "turn text data into knowledge" , Drug discovery support, dementia diagnosis support, financial / personnel / sales support, etc., contributing to solving various corporate issues. Listed on TSE Mothers on June 2014, 2007. Obtained a first-class medical device manufacturing and sales business license in January 6 (permit number: 26B2021X1), and notified the managed medical device sales business in September of the same year (notification number: 13 Minato Misei Equipment No. 1).The capital is 10350 thousand yen (as of March 9, 3).
* FRONTEO, conceptencoder, and KIBIT are registered trademarks of FRONTEO in Japan.