Integrating Artificial Intelligence and Personality Traits Into the Theory of Planned Behavior: Driving Shariah Compliant Investment Decisions (Al-Sharf Jurnal Ekonomi Islam)

Summary

• Registered investors with the Indonesia Central Securities Depository (KSEI) reached 21,066,415 by January 2026, up from 20,347,147 in 2025.p.4
• Generation Z investors under the age of 30 represented 54.35% of total registered investors in Indonesia in 2026.p.4
• The number of Sharia-compliant investors recorded by the Indonesia Stock Exchange reached 226,457 as of April 2026.p.4
• The study collected primary data from a sample of 282 Muslim Generation Z respondents across Banten Province.p.7

Key insights

1. Behavioral intention strongly mediates the relationship between TPB and Sharia investment decisions, yielding an indirect effect coefficient of 0.692.p.14
2. Artificial Intelligence features do not exert a statistically significant influence on Generation Z investment intention, showing a P-value of 0.368.p.14
3. Individual personality traits fail to show a significant direct effect on investment intention, displaying a T-statistic of 0.514.p.14
4. Investment intention fails to significantly mediate the impact of AI or personality traits on actual Sharia investment decisions.p.15
5. Generation Z Sharia investment decisions are predominantly driven by external social trends and app accessibility rather than innate personality traits or algorithmic AI tools.p.18