Crowdfunding and Artificial Intelligence: A Critical study of the Moroccan Legal Framework

Abstract

The artificial intelligence system (AI) continues to demonstrate technological progress and success across all areas of life. The alignment of AI companies with new requirements and international standards necessitates a significant financial investment, often borne by startups themselves. In this context, crowdfunding emerges as an alternative financing method, capable of supporting the development of technological infrastructures focused on transparency and security, key needs for both providers and users of AI. The methodology adopted relies on a legal analysis of the Moroccan legislative framework for crowdfunding, taking into account the specific needs of AI enterprises. The paper examines current legal texts, identifies regulatory obstacles, and offers a critical reading of existing regulatory mechanisms. It also incorporates a forward-looking perspective by linking on-the-ground realities with recent reforms in digitalization, financial innovation, and the digital transformation of public administration. The results reveal that several limitations hinder the effective deployment of crowdfunding in support of AI. The paper recommends harmonizing legislative texts, strengthening legal safeguards, and increasing institutional support to foster an ecosystem more conducive to innovation through participatory financing.