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The world is growing rapidly with the development of technology. Technology has brought various solutions to a number of problems that adversely impacted the entire world. Carbon emission and pollution are the most rigorous problems that have been cathode effectively with the help of technological advancements. The development of electric vehicles is the most predominant solution to this problem. And these advanced solutions have evolved from one of the largest automobile giants in the world, Tesla. The report has focused on the impacts of innovation and digital technology on Tesla. How the company has used innovations and various digital technologies for its development and success is the main focus of the report. Apart from that, various advantages and disadvantages of using these technologies have also been mentioned here. The use of artificial intelligence and innovations have a management system for the company which is also discussed in this report.
Description of the organization
Tesla Inc. is a vehicle manufacturing company in the USA. The company manufactures and designs various electric cars, solar panels, and battery energy storage for grid-scale and homes. The company also designs and manufactures products and services related to electric cars and battery energy storage and others. The company was established in 2003 in California USA and the current CEO of the company is Elon Musk (Tesla, 2022) The company is headquartered in Austin, Texas in USA. Tesla not only produces electric cars but also creates infinitely scalable energy storage and generation products and services.
The main goal of the company is to develop zero emission-based systems so that the world does not need to depend on fossil fuels. The mission of Tesla is to accelerate the transition system of the world to sustainable energy. As per the estimation of 2021 the company has around 5382 crores dollars in revenue collection. Currently, there are more than 70000 employees working in various stores of Tesla (Tesla, 2022). The company has achieved tremendous success because of various reasons including its new norms and regulations based on emission-free and safe vehicles, technologically advanced systems and products, and also because of high customer expectations (Kim, 2020).
Tesla has brought a huge change in the organization and also has acquired a large portion of the market share. The growth and development of the company are fueled by some bold decisions of transforming the operations into digital technology and also produce digital services in the automobile industry. One of the most crucial digital approaches that the company has taken over is the revolution of the automobile industry and its transaction from using gasoline to electric engines (Kim, 2020). The digital transformation in Tesla has become a prominent illustration of using digital services and innovative technology in any automobile industry. The company has brought transformation to digital services by connecting the automobiles of the company to the internet.
Developing vehicles and transforming them into electric cars using the internet and technology services and innovations is the most lucrative digital strategy of Tesla. Tesla has developed five different models of electric vehicles which are associated with an Internet connection and are equipped with various systems like cameras, radar systems, and ultrasonic sensors (Kim, 2020). This is the most tremendous development and innovation in the entire automobile industry. The Internet connectivity in electric cars has allowed the company to update their vehicles and monitor their services even over the air.
Tesla has become the only automobile manufacturing company that delivers automated and remote firmware system updates which can enhance performance and safety and are capable of entertainment in vehicles. Innovation has also been implemented in the development of power world solar roof solar panels, megapacks, and electric charges in charging stations for powering electric vehicles (Alghalith, 2018). These are the major innovative and digital technology developments brought in by Tesla. Tesla has also implemented some smart procedures through which the company can connect with customers.
The autopilot configuration system has also been invented in the company to enhance customer satisfaction. Innovation has also been developed through which the customer can select the interior, base model, color, and other features in the car with the help of the personalization system (Morando et al., 2020). Innovation of electric vehicles and transformation of them into connected cars are the predominant development of digital technologies in Tesla. Technological development and bringing innovation in the automobile industry have been possible with the help of AI and machine learning systems.
Machine learning and artificial intelligence have also helped the company a lot to bring digital transformation within the organization. Artificial intelligence and machine learning have helped the company understand the requirements and problems of the customers and the company can improve the product and service quality of the electric vehicles (Dhanalaxmi, 2020). This has thereby led the company to improve its automobile services and bring great technology development within the company.
Impact of Innovation and digital technologies on organizational development
Innovation and digital technology have supported Tesla in develop and growth. With the development of innovative and digital technology-based systems, the company has become able to acquire its market position and increase its competitive advantage in the marketplace. It has increased the brand image brand value and brand events of Tesla in the market. The company has become able to enter with the customers and clients using digital technology. It has helped the organizational leaders of Tesla to understand the demands and needs of the market (Akakpo et al., 2019). These insights have been used for the product and service development of Tesla. The leaders have also understood the need for transformation to sustainable energy.
Innovation in electric vehicles and electric power stations, battery storage systems, and other facilities developed by Tesla has helped the company meet the requirements of the customers in the market (Thomas, and Maine, 2019). This is very crucial for increasing competitive advantage which helps the company grow. As the company is able to meet the satisfaction level of the customers by delivering them the best quality and most important service in the automobile industry, this is possible that the company can increase its sales by attracting customers.
Digital innovation is also a crucial part of the modern world and with the help of digital innovation, Tesla is streamlining its operations and organizational processes which have brought efficiency to the company's functions. It has helped Tesla to stay ahead of the other competitors of Tesla in the field of the automobile industry by continuously implementing new innovations and technology which can enhance customer experience (Alghalith, 2018). By continuously improving the facilities and technical features in the year cars and automobiles of Tesla the company tries to increase the customer experience. This is very important for maintaining customer satisfaction which is significant for the competitive advantage at the market price.
Tesla has also developed artificial intelligence-based technology through which Tesla can enable vehicles to navigate via freeways and even traffic. This can help the customers gate a better and quick transfer nation service because of the Automated and unsupervised machine learning technology used in the cars (Dobrescu, and Dobrescu, 2018). It also enables (s the cars to navigate the areas which are congested and areas that are free through which the car can be directed towards the free areas to help the customers reach the destination within a stipulated time.
With the innovation of electric vehicles and the development of digital services in electric cars, Tesla has become one of the largest sustainable automobile companies in the world. Capable of reducing pollution and dependence on fossil fuels carbon which is significant for maintaining the sustainability of the environment (Muttaqi, Islam, and Sutanto, 2019). Therefore, this development has not only increased sales, and revenue collection of the company but also developed it into a customer and environment-friendly organization.
Not only in the field of manufacturing automobiles but also Tesla has become successful in improving the marketing and advertising strategies of the company with the help of innovation and digital technologies. With the help of machine learning and artificial intelligence, the organization leaders of Tesla can analyze the buying patterns, market trends, and purchasing power of the customers (Dhanalaxmi, 2020). It has thereby helped the company improve its pricing strategies production management and customer management.
Pros
Sustainable transportation
By developing fully automated and electric cars the company has become successful in shifting transportation from gasoline to electrical. The development of electric vehicles has enabled the use of fossil fuel-based vehicles. This Innovation and digital technology have reduced carbon emission burning of fossil fuels and thereby have resulted in a better effect on climate. People can now have sustainable transportation with the help of electric vehicles that do not make any carbon emissions. Therefore, the most significant and crucial advantage of innovation and digital technology software is the development of a sustainable transportation system (Vdovic, Babic, and Podobnik, 2019). Innovation and digital technology have helped people to reduce carbon emissions and shift their taste to electric vehicles which can decrease the pollution level caused by automobiles.
Competitive advantage
Tesla has achieved its frame by continuous development and bringing innovation to the organization by protecting service. Innovative product development always paves the way for a competitive advantage over other rivals. In the case of Tesla, not only innovation but also the development of unique products like electric automobiles has a huge advantage to attract customers and gain competition over its rivals of Tesla (Gali, 2020). As the company can use machine learning and artificial intelligence for understanding the market position, customers train to buy patterns. It can effectively understand the needs of the customers. It gave Tesla the chance to improve the service quality to increase its competitive advantage.
Business efficiency
Technology development can also boost the efficiency of business operations. For example, the organization’s employees and leaders can complete that task quickly and effectively without making a mistake with the help of technological devices. Bringing raw materials, maintaining the supply chain management, delivering the services to the customers, and marketing and advertising the products and services of Tesla all these operations have been effectively performed with the help of logical devices (Gali, 2020). This is important for maintaining efficiency in the business operation.
Better service
Development of autonomous technology in cars it is possible that the cars are not driven by any human being. Therefore, it can save a lot of time and money for people because they can select their destination on their own. Autonomous cars can also reduce the chances of accidents and risks as are noticed in conventional cars. This is because these cars are fully automatic and have advanced technology-based systems and artificial intelligence through which risk and accidents can be avoided (Vdovic, Babic, and Podobnik, 2019). This will enable better service quality in the cars. It can also increase customer satisfaction through which the brand image can be developed.
Cons
Lack of adaptability in AI
The adaptability of artificial intelligence is the power of human adaptability. Whenever any changes are important to the products, it can be a difficult situation to bring changes in the technology devices (De Cremer, and Kasparov, 2021). Upgrading the service or creating new features and bringing changes to these technologies take a lot of time. Therefore, this is a major con of innovation and digital technology.
Not feasible for an unpredictable environment
Technology sometimes may not be feasible for some unpredictable environments. Technology can work in the environment which is designed for the devices and without having recorded any new change, it cannot function properly. Therefore, it is also another major problem that Innovation and digital technology may face in the company (Dobrescu, and Dobrescu, 2018). To avoid these unpredictable situations the company needs to provide technical training to the employees for overcoming these situations.
AI can replace human workers
With the advanced level of working with artificial intelligence and machine learning, there may be a minimal need for human workers the unemployment rate may increase and many people can become unemployed. Shifting to autonomous technology can also increase the rate of unemployment because, with the help of technology, automobiles have developed to be self-driven. It will therefore reduce the need for human drivers on vehicles (Jarrahi, 2018).
Impact of technologies and innovation on data and knowledge Management and decision making
Technology and innovation also impact largely the data and knowledge man management of an organization. This system has become possible with the development of artificial intelligence and machine learning. With the use of artificial intelligence, organization leaders of Tesla can collect a lot of data and information regarding various things (Akakpo et al., 2020). The leaders can collect information about the current market position, market pattern-changing tests and requirements of the customer, needs and requirements of the market, and also the impact of the vehicles on the environment. This information can help the leaders in making effective decisions for the development of products and services for Tesla.
Specific artificial intelligence technology that is an unsupervised machine learning system has enabled the company to improve its navigation system in the cars through which the car can deliver service within a particular time. With the help of the artificial intelligence integrated chips, the company can also gather information about road traffic and free spaces which can also deliver a better service to the customers. Tesla also uses two artificial intelligence integrated chips through which it can provide better support to the cars to make its road performance better. These chips can make a distinctive assessment of the situation of the traffic and freeways to have the card be guided as per the assessment (Domagala, 2019). This data and information are collected with the help of machine learning and AI-based technology which is very significant for improving the knowledge management of Tesla.
The company also uses an autopilot software system that is installed in the vehicles of Tesla. These autopilot software systems can deliver updated information about the road conditions through which the cars of Tesla can more effectively travel (Morando et al., 2020). These technologies can help in building a neural network through which various information data communication and signals can be delivered for improving the performance of cars.
These systems also help in making effective decisions whenever required. The majority of sophisticated mobile robots are in operation. They feature embedded sensors and scans, as well as algorithms that allow them to study their environs and determine the most successful method, allowing things to be placed in different locations at different times. Automated automobiles with insufficient onboard intelligence can only follow simple programming instructions that direct them along with certain courses in a given area (Domagala, 2019). This information helps in effective decision-making during heavy traffic or to run in any free locations.
It can be concluded that innovation and digital technology have broad various dimensions in the organization to develop and grow. Tesla is one of the largest automobile companies that has significantly used technological advancements and broad various innovative solutions to the automobile industry. Technology has helped the company increase its competitive advantage and attract the satisfaction of customers. Artificial intelligence and machine learning have a huge impact on organizational development and growth. By bringing innovation using various strategies in the form of artificial intelligence the company can gather numerous data and information which can be used for product development service development and customer satisfaction.
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