One of the main goals of a new self-driving race car league in Abu Dhabi is to help reduce the number of road accidents around the globe, said a senior figure.
On Saturday, teams from across the world will be competing in the event, the first in the UAE.
Self-driving cars will take to a track that is more used to household Formula One stars such as Lewis Hamilton and Max Verstappen speeding around, than AI-driven cars.
However, there is a much bigger prize at stake than mere track glory for the organisers of the Abu Dhabi Autonomous Racing League (A2RL).
“Why we are doing it is because we want to put a big focus on road accidents,” said Tom McCarthy, executive director of Aspire, organiser of the A2RL race and the programme management and business development arm of Abu Dhabi's Advanced Technology Research Council.
“Over one million people are killed each year on the roads each year globally. It's a number that remains stubbornly high.
“What we find is the focus from the car manufacturers is on what happens after the accident, or what they call secondary or reactive safety. But how about trying to stop the accident occurring in the first instance?”
Every year the lives of about 1.19 million people are cut short as a result of a road traffic crash, according to the World Health Organisation.
Up to 50 million more people are said to suffer non-fatal injuries, with many incurring a disability.
Mr McCarthy suggested the data collated in the creation of the self-driving cars would go a long way in identifying how to avoid possible accidents in the first place.
“We are trying to first of all test these technologies in extreme conditions and also bring along the public to show them what's happening,” he told The National.
“We need to bring people inside the experiments to test what can be done in the most extreme conditions and then to build confidence in the public.
“We want to have a situation where, 10 years from now, the number of fatalities has greatly gone down and that we have made a small contribution to that.”
Race to the top
Teams made up of coders and engineers from the UAE, Germany, Italy, Singapore, US, Hungary and China will compete for prizes worth a total of $2.25 million during the event on Saturday.
All the teams involved will be operating a Dallara Super Formula SF23, built by Dallara, which features self-driving capabilities designed specifically for A2RL.
The car's top recorded speed is 240 kph, according to Mr McCarthy.
Last July, the UAE Cabinet approved the first preliminary national licence for self-driving cars, and a few months before that, a fleet of five electrical cars mapped out roads across Dubai for the eventual unveiling of autonomous public transport.
The value of the global autonomous vehicle market is predicted to top $1.8 trillion by 2030, from close to $94.4 billion in 2021, growing at a compound annual rate of about 39 per cent, according to data from Precedence Research.
“This is one of the key frontiers, besides the fact that we are developing the concept of safety using autonomous solutions, we are just scratching the surface of AI sport right now,” said Stephane Timpano, chief executive of Aspire.
“It's the beginning of a very interesting journey.
“One of the ambitions is for us [in Abu Dhabi] to become a point of reference when it comes to autonomous sport.”
One of the challenges autonomous racing faces is a public who are sceptical about the sport, he said.
“People are sceptical because they don't see the driver, they don't see the rock star, if you will,” said Mr Timpano.
“But we're going to put on amazing shows. It's only going to get better and better [as the technology advances].”
Does he ever see a time when driverless racing will challenge F1 in terms of popularity?
“I think it can be a complement to it, because you can certainly push the limits above what human can do,” he said.
“You can take the risk, because you're not putting any lives in danger [by pushing the unmanned car to its limits].”
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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