Technology – transforming businesses, F1 included

Today I was asked to speak to a multi national company whose IT professionals are in the midst of change driven by the pace and scope of technological advances which are rendering today’s systems redundant in months rather than years. I explained that in Formula One technology is constantly being used as a transformative tool – whether in improving the reliability, safety or performance of the cars, or in driving top F1 teams into creating new business opportunities as they offer technology solutions to new customers and markets.

Not so very long ago the IT departments of F1 teams were focused on ensuring that every member of staff, drivers included, operated using a prescribed set of hardware and technology solutions. You got what you were given. Now, as with any companies, employees – and drivers!- turn up with their own smartphones and tablets demanding that these are accommodated by the very same people entrusted with protecting the businesses core asset – it’s data.

Big Data is not new to Formula One, but the manner in which it is gathered, stored, analysed and worked continues to evolve. The cars are conceived and developed using significant computing power, the drivers are spending more time than ever driving simulators in a virtual environment, while on track the cars are transmitting streams of data. Race strategies are run using dynamic mathematical models to optimise performance and de-risk outcomes. So effective are we at using information that the leading cars are safer, more reliable and faster than ever.

The technology transformation within F1 has furthermore enabled companies such as McLaren, Williams and Ferrari to take know-how developed in one area and apply it elsewhere; creating new business opportunities. In ways which most fans and few media realise, technology is not only driving F1’s teams to new heights on a Sunday afternoon, but into new areas of business Monday to Friday.