Navigating the Unpredictable: Building Resilience Against Black Swan Events
Nassim Taleb’s concept of a Black Swan event—rare, impactful, and unpredictably rationalized post-occurrence—significantly affects industries like Oil & Gas. Examples include the Deepwater Horizon spill and Piper Alpha disaster, leading to enhanced risk assessments, safety practices, and regulatory overhaul to increase resilience and adaptability for future unforeseen events.