FORMULA ONE CAPSTONES: FUTURE TECHNOLOGY 2019

ON THE FAST TRACK FOR TECHNOLOGY

We recently curated a white paper for client, the Mayfair-based London Technology Club exploring how future technologies could affect some of the things the club members love…. In a series of six white papers across 2019 the Club will be looking at the things people are passionate about- from wine to art, longevity/wellness to philanthropy and property. The Club will be releasing reports identifying technology that is on the horizon that will impact those industries. The series was launched with the first report: The Future Technology in Formula One™. 60 guests including former F1™ driver Jolyon Palmer, gathered for an interactive panel discussion and breakfast at the Royal Automobile Club, Pall Mall.

Here is a summary, also printed in the April edition of the Mayfair Times

The report was split into three parts: technology for the fans, cars and teams.

FOR FANS:

“The next wave of technology will spearhead an evolution in our experience of Formula One that will bring unprecedented changes to the way we all connect with our favourite teams, drivers and fellow fans. The result will be a breaking down of the barriers that currently exist between us and the sport”

By 2025 we won’t just watch F1, we’ll experience it, event participate in it. We’ll be the 21st car on the grid being able to race against the cars virtually. Fans will be able to watch via video streaming anywhere in the world at any time, including the full back catalogue of races all served up to you by your virtual private assistant. Fans will have the option to watch via their VR handset to join their friends in their virtual sports bar…. At the track our experience will be ‘frictionless’ due to AI- powered assistants talking to each other to provide seamless services.

“The biggest shift in the live experience for F1 fans will be thanks to advances in how we communicate with AI-powered assistants.”

 FOR TEAMS:

It is not unrealistic to see a Formula One team dividing up part of it for ‘fractional ownership’. IE through tokenisation… using blockchain technology fans could own part of their favourite teams.

Also reported is the increase of artificial intelligence (AI) have more and more impact in team’s strategies.

“AI on the pitwall is coming, with the potential for the entire pitwall to be automated in the future”

 FOR THE CARS:

The future of mobility is changing with the focus globally on electric cars, Formula One has been key in developing hybridisation, which is playing a large part in the roadmap towards electrification

If the development of electric vehicle technology continues to progress at the rate seen so far, it could soon achieve performance parity with internal combustion engines. This means there is a real possibility that Formula E will pose a serious threat to Formula One as the pinnacle of motorsport. Indeed, Formula E boss Alejandro Agag recently stated he wouldn’t rule out a “long-term” merger with Formula One.

TO READ WINGMAN FOUNDER SIMON PAVITT’S FANTASY F1 TEAM IN PADDOCK MAGAZINE CLICK HERE

TO READ SIMON TALK TO FORBES MAGAZINE ABOUT HOW TO CREATE AN F1 TEAM’S IDENTITY CLICK HERE