Journal
SUSTAINABILITY
Volume 11, Issue 16, Pages -Publisher
MDPI
DOI: 10.3390/su11164501
Keywords
SMEs; commercial risk; SDG; artificial intelligence; risk management framework
Funding
- European Regional Development Fund, EU Structural Funds Investments program for 2014-2020 priority under Lithuanian Business Support Agency [J05-LVPA-K, J05-LVPA-K-04-0083]
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Risk management in commercial processes is among the most important procedures affecting the competitiveness of small and medium-sized enterprises (SMEs), their innovativeness and potential contribution to global sustainable development goals (SDGs). The ecosystem of commercial processes is the prerequisite to manage risk faced by SMEs. Commercial risk assessment and management using elements of artificial intelligence, big data, and machine learning technologies could be developed and maintained as external services for a group of SMEs allowing to share costs and benefits. This paper aims to provide a conceptual framework of commercial risk assessment and management solution based on elements of artificial intelligence. This conceptualization is done on the background of scientific literature, policy documents, and risk management standards. Main building blocks of the framework in terms of commercial risk categories, data sources and workflow phases are presented in the article. Business companies, state policy, and academic research focused recommendations on the further development of the framework and its implementation are elaborated.
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