Abstract: The usage of several artificial intelligence algorithms in the area of software defect prediction is reviewed in the literature in this paper, it review the use of various techniques for artificial intelligence in the field of software defect prediction. Software system flaws remain a significant issue, and modern software development now faces many difficulties. Identification, estimation, and evaluation of the risks are crucial steps in order to avoid, minimize, and monitor the risks and their effects.This literature review is quite helpful because it improves understanding of the studied area. A software fault is a flaw in an executable product that results in software failure. Saving money, time, and effort may be accomplished by identifying general software process areas that may require attention from the start of a project and understanding the potential causes of problems. Planning, managing, and carrying out software development activities could be aided by the ability for early fault estimation. In order to study how many prediction approaches have been developed over this time to address the problems linked to software defect, this research conducts a literature review of works from the previous many years.In the field of software development, the study also discusses software risk management. This study makes a significant contribution by proposing a method for analyzing, organizing, and utilizing information technology initiatives in the context of software defect prediction and risk management.