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  1. Home
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  4. ISLAMIC BANKING, ACCOUNTING AND FINANCE INTERNATIONAL CONFERENCE (iBAF)
  5. 2020 iBAF
  6. Industrial Revolution 4.0 and the Concept of Al Falah
 
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Industrial Revolution 4.0 and the Concept of Al Falah

Date Issued
2020-11-10
Author(s)
Rabiatul Nabila bt. Che Johar
Ummi Salwa bt. Bustamam
Azreen Jihan bt. Che Mohd Hashim
Abstract
Industrial Revolution 4.0 has been the new hype for several years now. Everyone is talking about automation and the changes to the job environment, which will cause massive technological unemployment if IR4.0 adaptation were not taken seriously. The journey of industrialization was then accelerated when the Covid19 pandemic hits the global. Everybody is all about the new norm that promotes social distancing, automation, and the virtual world. Though it is the right measure, IR4.0 was not viewed in Islamic perspectives. The existence of automation that may disregard Islamic moral or ethical value and fintech that is not compatible with Islamic finance and has attracted users to switch from Islamic finance to conventional financing is concerning. All of these happened due to the failure to foresee that the demand to adapt IR4.0 is not only a mere worldly success but can also be considered as Al Falah, an Islamic concept that defines success as something beyond materialistic. Therefore, the purpose of this paper is to eidolon efforts to adapt to IR4.0 as an effort to achieve Al Falah. This will give insight to Muslim scholars to take part in the development of IR4.0 in Malaysia since the concept of Al Falah will offer them greater motivation and purpose other than worldly matters. The paper is constructed to examine the discussion of Al Falah in publication, which manifested through Akhlaq, Ibadah, and Akidah and projected it in every benefit and challenge brought by IR4.0, which are productivity and efficiency, technological unemployment, and skills gap. The discussion showed that as the concept of Al Falah embedded in every aspect highlighted, the benefits of IR4.0 might bloom many other advantages as Al Falah not only aim for material gain but also promotes good morality, persistence, and determination, which will boost success. It also shows that the drawback of IR4.0 may be minimized since the community's welfare is put forward than personal goals. Understanding the concept will motivate Muslims to work harder, set the right goals, and offer more than expected. All of these traits will help the adaptation and adoption of IR4.0 technologies.
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Industrial Revolution...

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