A new conceptual framework for "risk sciences" has been introduced as an emerging interdisciplinary field dedicated to studying risk and uncertainty across natural, social, economic, and technological domains. The framework, detailed in an article published in the journal Risk Sciences, proposes a three-dimensional structure to organize how risks are studied and managed, aiming to strengthen societal resilience in an increasingly complex world.
The first dimension, identification and assessment, focuses on recognizing risks, evaluating their likelihood and impact, and modeling potential losses or consequences. This includes methods ranging from causal risk-factor models used in disaster research to statistical trend analysis common in finance and insurance. The second dimension, mechanism and strategy, examines how risks are addressed in practice through tools such as risk avoidance, mitigation, and transfer, as well as broader coordinated plans like national catastrophe risk management systems. The third dimension, behavior and decision, highlights how individuals, organizations, and institutions perceive risk and make decisions under uncertainty, drawing on insights from economics, psychology, and behavioral science.
According to the article's author, Runhuan Feng from Tsinghua University, "Risk sciences is not a single discipline, but an ecosystem of interconnected research." By integrating perspectives from natural sciences, social sciences, engineering, economics, and beyond, the framework aims to better understand complex risks and design more effective responses to challenges ranging from climate change and pandemics to financial instability, cybersecurity threats, and disruptive technologies like artificial intelligence.
The framework reviews major research areas shaping the field and identifies emerging trends, including the growing use of network analysis, agent-based modeling, and closer links between academic research, industry applications, and public policy. The article also introduces Risk Sciences as a new open-access journal designed to foster interdisciplinary integration and innovation, with the central hypothesis that synthesizing diverse approaches to risk can help build a shared knowledge base for better decision-making.
For business and technology leaders, this development represents a significant shift in how organizations might approach uncertainty management. The integration of behavioral insights with technical risk assessment could lead to more nuanced corporate risk strategies, while the emphasis on interdisciplinary collaboration suggests new opportunities for partnerships between technology firms, financial institutions, and research organizations. The framework's application to disruptive technologies like AI could help organizations navigate the ethical and operational uncertainties surrounding rapid technological advancement.
The emergence of risk sciences as a formalized field comes at a critical time when global interconnectedness amplifies both opportunities and vulnerabilities. As organizations face increasingly complex risk landscapes that transcend traditional disciplinary boundaries, this framework provides a structured approach to understanding uncertainty that could inform everything from corporate governance to international policy coordination. The practical implications extend to risk modeling, strategic planning, and organizational design across sectors that must navigate what the article identifies as "an era of escalating uncertainty."
