In today’s day and age, technology is rapidly improving and ever-changing. It has great impact on business operation the regardless of size, nature, scale, and money. In this report, an innovation trend and its uses are discussed in context of a Tesla. The selected trend is “Artificial Intelligence” which is the emerging technology and has a great potential in the future. The value proposition model and the recommendations for the company were detailed out in the report along with some assumptions.
Artificial Intelligence is the advancement in the computer science field that focuses on development of new and innovative & intelligent machines that works like human and carry out operations automatically.Tesla is an energy and automotive company which is headquartered in Palo Alto, California. The company specialises in producing electric cars, solar panel, and energy storage devices. It also deals in space technology. The company has high potential for the AI and the technology also looks promising for the company. In this report, the innovation tools are also discussed along with the value preposition. For that purpose, Entrepreneurship canvass model and value proposition model are explained in detail. In addition to this, the recommendations for the company were detailed out in the report along with some assumptions.
Problem to be Resolved
Tesla is aiming at improving the efficiency and reducing the errors and faults in the manufacturing and assembly line. At present, the company is undergoing poor employee performance and large number of faults.
In manufacturing and assembly plant, many of the errors and faults take place due to human ignorance and lack of focus. The AI can help in improving the current process of the organisation. Poor efficiency and faults have impacted the productivity and profits of the company in the past few years. AI-based machines can improve the speed of the manufacturing and assembly process (Goorer, et.al, 2017).
Portfolio of the Solutions for the Problems
Solution Selection Analysis
Out of all the solution proposed above, AI is the most suitable option that would surely be helping the organisation in improving the company’s efficiency. By making use of the technology, the company can standardised its operations in assembly plant and in manufacturing units. Once the standards are defined in the system, the AI-based machines can carry out operations in accordance with the defined procedure. This would reduce the chances of error and thus contribute in the business profits and revenue (Toro-Jarrín, et.al, 2016). The standardised operations can improve the operation pace and reduce the errors.
With the usage of AI in the matter of Tesla, different business openings will be gotten by the organization which will take into account the successful use of time and cost empowering the organization to pick up the upper hand (Anandan, 2018). As through AI, the best business choices can be made taking into account the addition in the organization's deals and income.
Value Proposition Canvas
Tesla is aiming at gaining some insights into robotics and automation technology that helps the company in improving its efficiency and bottom line. The customers will also be benefitted by the new and improved production line. In addition to this, the innovation can help in improving the portfolio of the company (Joyce&Paquin, 2016).
Disciplined Entrepreneurship Canvas
The first and foremost element of this canvas is Raison d’Etre, which elaborates the reason for the conducting business. The vision of Tesla is to acquire the top position in the automotive market. The mission of the company is to provide improved services and solutions in the field of transportation and clean energy.
The next is competitive advantagethat this technology will provide to Tesla and make its position in the market better than ever. With its innovative abilities, the company has gained humungous growth within a short span of time. Artificial Intelligence would help in the growth of the company by helping the company to launch new product line (Anandan, 2018). This way the company can be able to capture the large market share and new customers in both local and global market. (Bickersteth, et.al, 2018)
The third one is customer acquisition and Tesla is acquiring customers in the international market through customer satisfaction by offering innovative product that suits to the needs of the customers. The tech-savvy people and business class or elite class people would love to purchase (Porter&Heppelmann, 2014).
The forth one is the initial market of the company that include stakeholders, such as government, customers with unique demand, innovative minds, business organisation looking for clean-energy sources and power storage devices (Bickersteth, et.al, 2018).
Innovations Tools for Implementing AI in Tesla
Recommendations for Tesla Regarding the Selected Trend
It is advised to Tesla that it should provide customers to test for all the possible negative outcomes of implementing the AI technology in its cars and business operations. All the possible failure scenarios should be understood and a strategy to tackle them must be prepared. The AI should be equipped with upgrades that should be available to users on regular basis (Yin& Wang, 2012). In addition to this, the information of the user should also be protected through a firewall system that would make sure that no breach occurs. In addition to this, implementing AI in the communication system can also improve the efficiency information flow can take place in an effective manner.
This assessment helped me in improving some of my knowledge and skills. The first and foremost is the researching skills. Prior to this assessment, I have done only a few work where I need to read research articles and build argument. While working on this report, I got to learn about the same. In addition to this, I came to know many things and applications where AI can be used. I figured out that I am weak at writing reports as I was not able to prepare a proper structure. I have mentioned about eight tools that might support the innovation trend and I learned about their applicability (Litman, 2017). During this task, I become more acquainted with about my shortcoming and qualities and I figure I will be better ready to achieve my future ventures by utilizing the qualities (Yin& Wang, 2012). It will likewise help me in my future vocation. I find that I come up short on the initiative abilities yet I have awesome relational abilities so for chipping away at my administration aptitudes I will attempt to pick up learning from my instructors and seniors.
In this report, it was determined that technology is the backbone of every modern business. Majority of operations are based on technological innovations. In the document, many new innovation tools were discussed that could be used for implementing the Artificial Technology in Tesla. This won't just settle on the brisk choices in the organization however will likewise utilize cost and time for the smooth working of activities of the organization. The dialog is made in the report seeing different apparatuses, for example total quality management, benchmarking,advanced change, zero-based planning and a lot more and every one of these devices will help Tesla in the compelling usage of the AI.
just share your requirements and get customized solutions on time
offer valid for limited time only*
someone in is bought