Webinar: Can you train for a Black Swan Event?

The Club hosted a webinar with CAE, the global leader in civil aviation training, for the discussion ‘Can you train for a Black Swan Event?

Webinar overview:

The webinar addresses the limitations of model-based risk management techniques in dealing with highly volatile, high-impact, and very low probability events, known as Black Swan Events. While these techniques can be effective for predictable events, they may lead to complacency when operators believe their systems are equipped for any scenario.

Fixed models consider the “known unknowns” but often ignore the “unknown unknowns.” Decision theory, which relies on a fixed universe of possible outcomes, similarly minimizes the impact of events outside the model.

During the webinar, the following topics were explored:

• How do we define a Black Swan Event?
• Can human behavior and performance be predicted?
• Is it possible to train for a Black Swan Event?

Webinar Link

Vimeo