Navigating the Future: The Impact of AI on Islamic Economic Policy in the Digital Age

Nispia Asya'bani, Arva Athallah Susanto, La Himmah il Princess Choris, Syanisma Khansa Indirwan, Anidah Binti Robani

Abstract


Purpose – This study aims to explore the transformative impact of artificial intelligence (AI) on Islamic economic policy in the digital age. AI, with its capabilities in data analysis, decision-making optimization, and risk assessment, presents significant opportunities for advancing the principles of Islamic economics, which emphasize justice, equity, and societal welfare.

Methodology - The research employs a Systematic Literature Review (SLR) methodology, synthesizing findings from 24 studies to assess AI’s contributions to Islamic financial systems and its alignment with Sharia principles. Despite its benefits, AI integration faces challenges such as ensuring ethical algorithmic design, mitigating biases, and establishing robust regulatory frameworks that uphold Sharia’s moral and legal standards.

Findings - The study highlights the need for collaborative efforts among policymakers, Islamic financial institutions, and technology developers to address these challenges. Findings underscore that the successful implementation of AI in Islamic finance hinges on balancing technological innovation with adherence to Islamic ethical principles, paving the way for a fairer, more inclusive, and sustainable economic future. This study serves as a foundation for further research on harnessing AI’s potential in Islamic economic policy while safeguarding its ethical and religious integrity.


Keywords


Artificial Intelligence;Islamic Economic Policy;Sharia Compliance; Financial Inclusion; Digital Transformation

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DOI: https://doi.org/10.17509/rief.v8i1.80936

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