As the pandemic continues, parallels are emerging in how pandemics are modeled, the methodologies employed, and the data challenges which exist. (Photo: CDC)
The impact of the COVID-19 pandemic has dramatically influenced every aspect of how we live, work and think about systemic risk. During the course of 2020, as the pandemic became ingrained in the public consciousness, evermore seemingly technical modeling vocabulary crept into the media.
R numbers; flattening the curve; logarithmic scales; second-order uncertainty, and the like. It occurred to me that pandemics as a systemic risk have a lot in common with how we think about cyber risk. Cyber risk models aim to understand and articulate the systemic risk potential arising from the increasingly hyper-connected technological world in which we operate, both in our economy and wider society.
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