Parameter estimation strategies have long been a focal point in research due to their significant implications for understanding data behavior, including the dynamics of big data. This study offers an advancement in these strategies by proposing an adaptive parameter estimation approach for the Generalized Extreme Value distribution (GEVD) using an artificial neural network (ANN). Through the proposed adaptive parameter estimation approach, based on ANNs, this study addresses the parameter estimation challenges associated with the GEVD. By harnessing the power of ANNs, the proposed methodology provides an innovative and effective solution for estimating the parameters of the GEVD, enhancing our understanding of extreme value analysis. To predict the flood risk areas in the Chi river watershed in Thailand, we first determine the variables that are significant in estimation of the three GEVD parameters μ,σ, and ξ by considering the respective correlation coefficient and then estimating these parameters. The data were compiled from satellite and meteorological data in the Chi watershed gathered from the Meteorological Department and 92 meteorological stations from 2010 to 2021, and consist of such variables as the Normalized Difference Vegetation Index (NDVI), climate, rainfall, runoff, and so on. The parameter estimation focuses on the GEVD. Taking into consideration that the processes could be stationary (parameters are constant over time, S) or non-stationary (parameters change over time, NS), maximum likelihood estimation and ANN approaches are applied, respectively. Both cases are modeled with the GEVD for the monthly maximum rainfall. The Nash-Sutcliffe coefficient (NSE), is used to compare the performance and accuracy of the models. The results illustrate that the non-stationary model was suitable for 82 stations, while the stationary model was suitable for only 10 stations. The NSE values in each model range from 0.6 to 0.9. This indicated that all 92 models were highly accurate. Furthermore, it is found that meteorological variables, geographical coordinates, and NDVI, that are correlated with the shape parameter in the ANN model, are more significant than others. Finally, two-dimensional maps of the return levels in the 2, 5, 10, 20, 50, and 100-year return periods are presented for further application. Overall, this study contributes to the advancement of parameter estimation strategies in the context of extreme value analysis and offers practical implications for water resource management and flood risk mitigation.