Technological advancements in terms of smart sensors, high speed communication enabling the transfer of massive data sets in almost real time, and real-time decision capabilities have resulted in the emergence of large scale, complex, and optimized interconnected systems. While such systems perform well under normal operations, they can exhibit fragility in response to certain disruptions that can lead to system breakdown and cascades of failures. This phenomenon, referred to as Systemic Risk, emphasizes the role of the system interconnection in causing such, possibly rare, events.
