Publication: Artificial Intelligence (Ai) Application In Islamic Finance: A Review Of Business Use Cases
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Date
2022-12
Journal Title
Journal ISSN
Volume Title
Publisher
Penerbit USIM
Abstract
This paper aims to review the use cases of AI applications implemented in Islamic financial institutions across the globe to get some understanding on how AI can be applied in real business environment of providing Shariah compliant financial services. To get real industry examples, the study utilizes content analysis method in reviewing Islamic financial technology reports and related news. The findings indicate that Islamic financial institutions across the globe have incorporated AI based digital innovations in general operations. However, AI applications in the Shariah compliance aspect is still limited. A more coordinated collaboration among academics and Islamic finance industry players with respective Shariah and technology backgrounds is crucial to unleash the potential of AI applications in Shariah compliance of Islamic finance.
Description
E-Proceeding (Extended Abstract) SAIS 2022 Seminar Antarabangsa Islam dan Sains 2022 : “Memimpin Integrasi Ilmu Naqli dan Aqli”/ Editor: Nuradli Ridzwan Shah Mohd Dali , Irwan Mohd Subri , Siti Rubaini Mat.
1 December 2022 I Venue: Fakulti Perubatan dan Sains Kesihatan, USIM
Organized by Persatuan Kakitangan Akademik Universiti Sains Islam Malaysia (PKAUSIM), Faculty of Syariah and Law, USIM and the Institute of Fatwa and Halal (iFFAH)
Keywords
Islamic Finance, Artificial Intelligence, Islamic Financial Technology, Robo Shariah Advisory