Leadership and Managerial Challenges in Driving Digital Transformation Using Robotics and AI in Finance and Accounting Function

The advancement of AI and Robotics has become more apparent and feasible within the finance and accounting domains creating new pathways for improving business results. Nevertheless, the shift towards such technologies is not easy, especially in overseeing leadership and management. This paper explores the leadership and managerial challenges of organizations in digital transformation. The aim is to define principal challenges which include the resistance to change, lack of adequate skill within the workforce, and absence of clear vision from the leadership and find ways of addressing these challenges. This study’s uniqueness is in examining leadership aspects, which are hidden behind technology parameters of AI adoption and robotics. A qualitative research method is adopted, combining interviews which are semi-structured with 20-30 participants from the banking industry, financial institutions and corporate accounting. The proposed framework also underlines course of action in areas of training, leadership support, employee participation and feedback systems for CDSS technology implementation. The survey also shows that willingness to reject change is the biggest problem mentioned by 60% of the respondents, and the second most frequent challenge is labor force skills deficit rated by 50% of the respondents. Besides, the research also provides insights into the benefits received from AI and robotics implementation; more efficiency (67%) and better accuracy (60%)). Researchers should focus on analyzing consequences of these actions at a longer term and the ethical issues of using AI in finance.