How To Deal With Black Swan Events?

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.