Harmonizing Artificial Intelligence with Islamic Values - A Thoughtful Analysis of Religious, Social, and Economic Impacts of Technological Advancements

Abstract

The research explored the integration of AI technologies with Islamic principles and their implications for religious, social, and economic structures in Muslim-majority countries. It used qualitative design, semi-structured interviews, and case studies to analyze digitization of the Holy Qur’an and Hadith, and AI in banking compliance with Shariah laws, focusing on lexical-semantic, syntactical, grammatical, and pragmatic issues. A few of the such AI-based Qur’an tools include KSU Qur’an (مشروع المصحف الإلكتروني بجامعة الملك سعود), Islam web, Qur’anic Arabic Corpus, Almonagib alQur’any (المنقب القرآني), Tanzil (Tanzil Documents), The Qur’an (Al-Qur’an (القرآن) - Online Qur’an Project - Translation and Tafsir) and the Noble Qur’an (The Noble Qur’an – القرآن الكريم). Islamic Fintech, which adheres to Shariah principles, is embracing innovation to streamline transactions and comply with the Holy Qur’an. AI virtual assistants like ‘Aisyah’ are being adopted by Islamic banks to streamline transactions and eliminate risks like leverage and uneven maturity. The regulatory management of Islamic FinTech includes issues like Islamic cryptocurrency rules, money creation, and eliminating ‘riba’. In Malaysia and Indonesia, digital zakat distribution and classification systems are being developed using AI to accurately classify those in need and compute financial percentages for each group. Thematic analysis revealed that human-inspired, analytical, and humanized AI has led to its significant impact on various aspects of life, society, and employment. Nonetheless, AI cannot substitute for the profound comprehension and knowledge of Islamic jurists, alongside human reasoning and intellectual competence. Job displacement and ethical concerns of accuracy, transparency, fairness, and accountability remain significant challenges for society.