Unlike Black Swan events, which are highly improbable, with catastrophic impact, Grey Rhino events are highly probable, high impact yet neglected threats that occur after a series of warnings and visible evidence.
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Rhinos and Risk Assessments: Adjusting risk Assessment Methodologies to Account for ‘Unforeseeable’ Events
By Dr. Jo Robertson
It is wrong to describe the COVID-19 pandemic as a "black swan" (i.e. a catastrophic event that no one saw coming). Far more apt would be to call it a ‘grey rhino’…