How To Deal With Black Swan Events?

How To Deal With Black Swan Events?

1 Answer

  1. Although these events are unforeseen, there are few strategies you could try in order to prevent yourself from it. The hazard avoidance is often a purposeful strategy during the site-selection process and is exercised through a set of guiding principles based on continually updated prior experiences. Buildings have long been sited away from flood-prone locations, whatever the cause of flooding may be. You may also consider the risk management techniques. There are three categories that I believe we should apply risk management principles to including; 1) threats to the energy grid and critical infrastructure, 2) bio-terrorism and pandemics, and 3) the potential of malevolent artificial intelligence. Things like non-nuclear power plants have also been subjected to intrusions and breaches. A hack in Ukraine was held up as a prime example. In December 2015, hackers breached the IT systems of the electricity distribution company Kyivoblenergo in Ukraine, causing a three-hour power outage. Hence you need to understand all the possibilities that might lead to downfall of your economy, assess them and prepare yourself for it.

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