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Artificial Intelligence, Smart Contract and Islamic Finance

Author

Listed:
  • Siti Rohaya Mat Rahim
  • Zam Zuriyati Mohamad
  • Juliana Abu Bakar
  • Farhana Hanim Mohsin
  • Norhayati Md Isa

Abstract

This study examines the two important aspect of latest technology issues in Islamic finance that related to artificial intelligence (AI) and smart contract. AI refers to the ability of machines to understand, think, and learn in a similar way to human beings, indicating the possibility of using computers to simulate human intelligence. Smart contract is a computer code running on top of a block-chain containing a set of rules under which the parties to that smart contract agree to interact with each other. The main objectives of this article is to evaluate the operations of AI and smart contract. Our study also highlights the comparison between the operations of AI and smart contract. This article concludes that AI and smart contract will have a huge impact in future for Islamic Finance industry.

Suggested Citation

  • Siti Rohaya Mat Rahim & Zam Zuriyati Mohamad & Juliana Abu Bakar & Farhana Hanim Mohsin & Norhayati Md Isa, 2018. "Artificial Intelligence, Smart Contract and Islamic Finance," Asian Social Science, Canadian Center of Science and Education, vol. 14(2), pages 145-145, February.
    • Handle: RePEc:ibn:assjnl:v:14:y:2018:i:2:p:145
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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