Islamic Perspectives on Entrepreneurship in the Industry 4.0 and Artificial Intelligence Era

Abstract

This study re-establishes the theoretical foundations of Islamic entrepreneurship through Quranic and Hadith guidance, while examining barriers faced by Muslim society in the era of the Fourth Industrial Revolution (4IR), driven by Artificial Intelligence (AI). Content analysis of Quranic verses and six major Hadith compilations identified five themes from each source, together forming a comprehensive ethical framework for Islamic entrepreneurship. Data from 100 Muslim participants—including scholars, da’wah followers, pir-murids, religious officers, and general Muslims—were analyzed using statistical frequency and thematic analysis. Findings revealed five principal barriers: religious misconceptions (76.8% perceived entrepreneurship as risky), lack of institutional and financial support (70% cited difficulty accessing Sharia-compliant investment), skills deficit (63% lacked business and digital skills), socio-cultural barriers (69% viewed employment as safer), and technological unpreparedness (63% lacked digital skills, 49% resisted integrating Islamic economics with entrepreneurship).

The study proposes a three-tier framework: (1) Quranic-Hadith foundations, (2) skills development and education reform, and (3) institutional and policy support. Recommendations are offered for religious institutions, Islamic banks, educators, policymakers, and the technology sector. Limitations include the Bangladesh-only sample and convenience sampling. Future research should explore comparative studies, AI-integrated models, and female Islamic entrepreneurship. Islamic entrepreneurship is framed as worship, social responsibility, and spiritual pursuit, capable of ensuring prosperity and success in the hereafter when aligned with 4IR technologies.