Crestview Debt Relief Lawyers Discuss Bankruptcy-Predicting Artificial Intelligence

October 27, 2021 at 17:08

bankruptcy assistance lawyers in Crestview, FL

Crestview, Fla. — The capability to correctly gauge the monetary hazards of working with a particular company is essential in the business world. Lewis and Jurnovoy, local bankruptcy assistance lawyers, are here to discuss new artificial intelligence (AI) that can predict one of the most critical causes of monetary loss and damage to the national economy — bankruptcy.

Research economists have been front and center in the pursuit of creating new bankruptcy forecasting methods, which are of great necessity to those principally working in the business sector. A new method of employing machine learning was discussed in an article that was recently published in the Expert Systems with Applications journal, entitled “Bankruptcy Prediction on the Base of the Unbalanced Data Using Multi-Objective Selection of Classifiers” by Professor Yuri Zelenkov at the HSE Graduate School of Business, as well as student Nikita Volodarskiy. According to the International Business Machines Corporation, machine learning is “a branch of artificial intelligence (AI) and computer science which focuses on the use of data and algorithms to imitate the way that humans learn, gradually improving its accuracy.”

The National Research University Higher School of Economics stated that, “predicting a company's bankruptcy is a type of 'classification task', which involves determining whether a given business belongs to one of two categories: those which remain in operation and those which go bankrupt within a certain period of time. The proposed method was developed using a set of historical data on successful and failed companies. The AI is trained using a set of business performance indicators. It then searches for complex patterns in companies' development and their current state.” Once trained, the future direction of the company can be predicted to a certain degree.

Lewis and Jurnovoy have been providing debt relief and bankruptcy assistance in Crestview and the rest of the Florida panhandle since 1998 and are dedicated to keeping their community informed. The trusted bankruptcy attorneys offer free consultations to help determine the best option for each client. For more information about debt relief or bankruptcy cases, give Lewis and Jurnovoy a call at (850) 409-3350 or visit them online at lewisandjurnovoy.com.

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For more information about Lewis & Jurnovoy, PA- Crestview, contact the company here:

Lewis & Jurnovoy, PA- Crestview
Steven D. Jurnovoy and Martin S. Lewis
(850) 409-3350
bankruptcylawyers.crestview@gmail.com
1501 S. Ferdon Dr. Crestview, FL 32536

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