McLaren Applied Technologies & Deloitte team up to build data-driven products has been saved
McLaren Applied Technologies & Deloitte team up to build data-driven products
15 May 2017
- Two firms to work together to develop products that solve complex industry challenges and improve clients’ business performance.
- The relationship is expected to deliver products that can provide over £1bn in annual client benefits by 2022
- Around 150 new jobs to be created.
McLaren Applied Technologies, the advanced technology, innovation and design company, and Deloitte, the business advisory firm, today announce the launch of a new collaboration agreement.
The two firms will collaborate to build data-driven business products. These will draw on McLaren’s engineering, sensor, simulation and analytics experience first developed and proven in the ultra-competitive world of motorsport, coupled with Deloitte’s digital and analytics experience delivering large consulting projects globally. The relationship will aim to create products that can provide more than £1bn in annual benefits for clients by 2022, including savings, growth, productivity and quality improvements.
Looking to address complex, industry-wide challenges and improve performance across clients’ businesses – initially focussed in healthcare, life sciences, retail and transport – the products will combine specialist hardware and software, with sophisticated algorithms. These will aim to bridge the “physical-to-digital” divide by helping organisations make sense of data. This can include capturing data from physical sensors to create a sophisticated digital record; enriching it using advanced analytics, artificial intelligence (AI) and machine learning; and delivering information in automated and more effective ways.
Initial uses for the products could include improving scheduling, traffic congestion and accident response time in complex transport networks; raising quality and compliance in manufacturing supply chains; or live outpatient monitoring and treatment in healthcare.*
As part of the relationship, the two firms will aim to hire around 150 new highly-skilled employees. The majority of these will be based in shared collaboration space in central London, expected to open from early 2018. Building on extensive existing skills in both organisations, they will be looking to recruit additional professionals with experience in product and software development, data analytics and data science, the Internet of Things (IoT), machine learning and AI.**
While the relationship will be centred and initially launched in the UK, the products created will be rolled out across clients and markets in Deloitte’s global network of member firms over the next two years. This will include target markets in North America, Europe and Asia.
Mike Dobby, vice chairman and senior consulting partner at Deloitte, said: “This relationship with McLaren Applied Technologies opens up a number of opportunities for Deloitte, particularly for our consulting business. Increasingly clients are turning to us not only for advice, but also for digital and physical products to solve their problems. McLaren has a proven record of successfully applying their technologies to real-world business situations across a range of sectors. By combining this with our own global digital advisory experience, today’s announcement is the start of an exciting move for both firms to create revolutionary data-driven products for our clients.”
Ian Rhodes, Chief Executive Officer, McLaren Applied Technologies, said: “McLaren is first and foremost a technology company and among the pioneers of collecting data through sensors and then interpreting and using that in clever ways to generate insight. We realise the huge potential for us to take that kind of experience to improve businesses and solve some of their most pressing challenges. So it makes sense for us to collaborate with a company like Deloitte who have a range of complementary digital and analytics skills, combined with a global network of clients and locations, to scale our co-created data driven business products. I’m pleased to say that, in doing so, the relationship will result in the hiring of around 150 new people who will form part of highly skilled and energetic teams to put at our client’s disposal across a focused range of sectors.”
Notes to editors
*For example, using sensors embedded in a manufacturing production line, a real-time digital record can be created and then analysed using simulations and machine learning. Should this analysis detect potential future anomalies in the performance of equipment or the quality of the item being made, businesses will be alerted to the implications and able to intervene before the machinery starts to make faulty products. At present, many manufacturers are unable to predict such anomalies and faults are only noticed at the end of the production line, often leading to the whole batch of produce being destroyed.
About McLaren Applied Technologies
McLaren Applied Technologies is on a relentless mission to improve people’s lives by combining fresh thinking and technology to solve crucial challenges.
Part of the McLaren Technology Group, decades of competition in the world’s most technologically advanced sport has given Applied Technologies the ability to see and maximise the potential of an increasingly connected world.
And working with like-minded visionaries, Applied Technologies go beyond the limits of what was considered possible to turn ideas into reality by developing intelligent products and processes.
For more information, visit www.mclaren.com/appliedtechnologies
Follow on Twitter @McLarenApplied
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.