IsDBI publishes a report on the role of artificial intelligence in financial inclusion
The Islamic Development Bank Institute has released a report that tackles the role of artificial intelligence (AI) in fostering financial inclusion. Titled ‘Artificial Intelligence and Islamic Finance: A Catalyst for Financial Inclusion’, the document looks at some of the major challenges preventing the adoption of AI technologies and provides an Islamic finance framework for financial inclusion. The report pays particular attention to small and medium enterprises. In this context it recommends the development of sustainable financial infrastructure, both physical and intellectual as well as a better understanding of the needs of microentrepreneurs at different stages of business development so as to facilitate financial inclusion.