Artificial Intelligence and NLP -Based Chatbot for Islamic Banking and Finance

Abstract

The role of artificial intelligence (AI) is becoming increasingly important in the field of banking and finance. It has come a long way, and the trend is likely to continue for some time in the future as well. This research study reviews the role of artificial intelligence and use of technology in the finance and banking industry and how AI has changed the way the banks and financial institutions do their business. Customer engagement is one of the most critical parts of the finance and banking industry. This research proposes an artificial intelligence and natural language processing (NLP)-based chatbot model for advising the customers of Islamic banking and finance. Presently, the proposed chatbot is the first chatbot that will help the Islamic finance and banking customers to interact in real time and get Islamic financial advice based on the principles of Sharia related to individual's financial needs.