Verification process for identifying
inappropriate responses extracted from actual phone call
recordings
FRONTEO, Inc. (“FRONTEO”) (NASDAQ:FTEO) (TSE:2158), a leading
provider of artificial intelligence (“AI”) based big data analysis
services, and Advanced Media, Inc. (“Advanced Media”) (TSE:3773), a
leading provider of product solutions utilizing voice recognition
and voice recognition UI (user interface)/UX (user experience),
will begin a Proof of Concept (“PoC”) trial run conducting
compliance checks for financial trades placed over the
phone.
This service aims to provide an accurate
verification system by constructing a process utilizing actual
phone call recordings and seeks to allow financial institutions
conducting sales activities by phone to easily detect inappropriate
responses that may breach laws such as the Financial Instruments
and Exchange Act.
The compliance check service for phone call
recordings service will seek to do as follows:
1. Conduct tuning services to add
customer-specific vocabulary data, build language models, and
construct acoustic models for Advanced Media’s voice recognition
engine AmiVoice.
2. Build a voice
recognition system with an embedded and tuned voice recognition
engine within the financial institution’s systems. Training
on the various settings and methods for use will also be offered.
The system will input recorded phone conversations and convert
conversations to text within the actual environment.
3. Input content
that should be detected through analysis as training data for
FRONTEO’s artificial intelligence (“AI”), KIBIT, to teach it to
identify situations including:
- Communication between a sales representative and customer that
might infringe on compliance standards
- Transactions that have the possibility of deviating from
company or business policies and rules
4. Analyze
recorded phone conversations that have been converted to text with
KIBIT. Verify KIBIT’s accuracy in detecting and scoring
inappropriate responses. Adjust tuning as needed. Both FRONTEO and
Advanced Media have an extensive track record of working with
financial institutions and believe they possess the compliance
knowledge necessary to provide a one-stop process to achieve
financial institutions’ compliance goals. Furthermore, FRONTEO and
Advanced Media’s services include converting conversation records
into text, tuning to improve AI analysis accuracy, and training on
application and engine usage, allowing a smooth transition to the
service beginning with early implementation or from verification.
The verification period is estimated to be approximately three to
four months for a standard workload.
The AI engine, KIBIT, has showcased an ability
to correctly identify and score compliance-related verifications
even when text was incorrect by understanding the surrounding
context. Thus, a combination of voice recognition and text analysis
technology makes it possible to find context for analysis even if
the sentence text is not correct.
Currently, every financial institution is
engaged in fulfilling its fiduciary duties. Both FRONTEO and
Advanced Media believe that the implementation of their compliance
check service will greatly improves the quality and efficiency of
identifying high-risk records . Furthermore, as employees improve
their behavior, customer care can also improve. FRONTEO and
Advanced Media will continue to offer this service while exploring
expansions in its application, such as using it for responding to
customer inquiries.
The compliance check PoC trial run for phone
call recordings will be exhibited at the AI Expo scheduled to be
held from June 28 through June 30 at Tokyo Big Sight. For more
information on AI Expo, please visit
http://www.ai-expo.jp/en/HOME
Name: 1st AI EXPO: Artificial Intelligence
Exhibition & ConferenceDates: Wednesday, June 28 - Friday, June
30, 2017Venue: Tokyo Big SightBooth: 32-39 (East Hall 6)
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.
For more information about FRONTEO, contact
global_pr@fronteo.com or visit http://www.fronteo.com/global/.
About Advanced Media, Inc.
Advanced Media, Inc. provides three forms of business services,
which are all centered on its voice recognition technology. ・
Solution support business offers planning, designing, and
developing voice recognition solutions incorporating AmiVoice.・
Product business offers license of application which incorporate
AmiVoice.・ Service business offers services that incorporate
AmiVoice for business users and general consumers.Advanced Media’s
voice recognition technology, AmiVoice, is different from past
voice recognition systems operated through machines. It is an
intelligent human interface that is organized around voice
recognition and can react and record like a person when someone
speaks to the machine naturally. Advanced Media provides AmiVoice
to a wide range of businesses such as call centers, healthcare
service providers, regional governments, mobile service providers,
logistics companies, and so on.
For more information about Advanced Media, visit
http://www.advanced-media.co.jp
Safe Harbor StatementThis
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
global_pr@fronteo.com
FRONTEO (NASDAQ:FTEO)
Historical Stock Chart
From Apr 2024 to May 2024
FRONTEO (NASDAQ:FTEO)
Historical Stock Chart
From May 2023 to May 2024