Using AI in SMEs to Prevent Corporate Insolvencies: Identification of Frequently Used Algorithms Based on a Literature Review

Digitalization 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.