Financial Applications of Artificial Intelligence: Sharīʿah Issues and the Maqāṣidī Dimensions

Abstract

This research deals with the most important legal issues related to the financial applications of artificial intelligence, which has reached an advanced stage. Moreover, new applications have appeared that herald a rapid succession of further developments of increasing complexity. This is discussed after the necessary preliminaries to clarify the concept of artificial intelligence and explain its levels and challenges. The Sharīʿah issues presented by the research are jurisprudential issues, some of which have maqāṣidī dimensions, which the researcher reviewed from the macroeconomic perspective. The Sharīʿah issues related to the financial applications of artificial intelligence are not limited to those presented in the research; rather, there are others, and these issues will continue to develop as this intelligence keeps developing. This requires continuous monitoring of new issues in order to deal with them precisely from the perspectives of fiqh and the objectives of the Sharīʿah.