Rudolf Grünbichler – Graz University of Technology, Faculty of Mechanical Engineering and Economic Sciences, Institute of Business Economics and Industrial Sociology, Kopernikusgasse 24/II, 8010 Graz, Austria

Raphael Krebs – Graz University of Technology, Faculty of Mechanical Engineering and Economic Sciences, Institute of Business Economics and Industrial Sociology, Kopernikusgasse 24/II, 8010 Graz, Austria


7th International Scientific-Business Conference – LIMEN 2021 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – SELECTED PAPERS, Online/virtual, December 16, 2021, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-53-0, ISSN 2683-6149, DOI:

Corporate insolvencies;
Corporate bankruptcy;
Artificial intelligence;
Small and Medium-sized



Digitization in enterprises enables the application of artificial intel­ligence, especially machine learning. One area of use for artificial intelligence is in the creation of an insolvency forecast for companies. With a literature re­view, the current status on the usage of artificial intelligence in insolvency fore­casting is presented. For this purpose, the two databases Scopus and Web of Science are searched for scientific papers on the topic of artificial intelligence and corporate insolvencies to get an up-to-date impression of the status quo. A particular focus is placed on small and medium-sized companies. It is shown that artificial intelligence methods provide better results compared to classical methods. The research reveals that the most important algorithms related to the prediction of potential corporate insolvency are artificial neural networks, decision trees and support vector machines as well as hybrid models.

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