The sport of Formula 1 is 70 years old, commencing in 1950, and the last 25 years have been characterised by a revolution brought about by digital transformation. Each Formula 1 team is a technology business, creating a high-end technology product which happens to be a Formula 1 car. A fully-connected, networked device, a Formula 1 car’s performance is monitored and managed real-time, with key decisions made remotely from ‘mission control’ suites back at headquarters. So while the car might be racing in Japan, decisions regarding risk, performance, product life-cycle management and quality are being made in Europe. In this data-rich environment in where decisions are truly mission-critical, teams have embraced AI in significant ways – both in manufacturing operations at HQ, but also in helping to guarantee a better quality of decision making during events. Algorithms process the enormous range of variables affecting performance, and help the engineer teams to deliver better outcomes. One of the big lessons Formula 1 teams have learned is that a data-driven culture improves human performance, enabling Formula 1 drivers to constantly improve and giving teams the opportunity to develop better systems and processes – even to the extent of being able to complete a Formula 1 pit stop in 1.88 seconds.
Managing Director @ Performance Insights Ltd