Wild cards are major ‘known’ events or developments that can emerge, paradoxically as shocks, at any time. They are the ultimate ‘high impact, high uncertainty’ events, but typically their systemic impacts are ill-defined. Sometimes they are seen as so unlikely that they can be ignored. Or not even registered in risk calculations. Often they are seen fatalistically, along the lines of ‘nothing we can do about that’.
They can also be missed because their relevance to interconnected systems is missed. While in some ways networks make us more resilient to moderate disruptions, in an interconnected world an extreme event in one system when interlinked with other critical systems can create catastrophic, synchronised chains of events. Even small wild card events can tip fragile systems into chaos. For example, the complex ‘inter-systemic’ relationships between climate, water, energy, food and political stability are only now becoming clear. Mapping connections and simulating potential wild card trigger events is one of the grand challenges of complexity science.
Summaries of Long Read and Briefings essays and full access to curated links
The Oracle Partnership is launching a comprehensive subscription service in January 2020. In the meantime, full access is by arrangement.
Please write to us at: email@example.com. If you would like to receive Oracle Partnership updates and receive notification when the subscription service is launched, please register for updates.