MIRC · Research in progress
Risk framework
The Matrix of Innovation-Risk-Crisis (MIRC) is a framework for analysing how innovation contributes to crises.
How MIRC works
MIRC maps areas of innovation against the creation, disguise and transmission of risk. This helps explain how innovation can contribute to a crisis or worsen its effects.
| Dimension | What it examines |
|---|---|
| Creation | How innovation introduces new risks or increases exposure to them. |
| Disguise | How innovation obscures risk or gives a misleading impression of safety. |
| Transmission | How innovation allows risk to spread through a system. |
By connecting innovations to these functions, MIRC helps explain how risks accumulate and why warning signs may be overlooked.
Applying MIRC to AI innovation
Applying MIRC to AI involves examining how advances in capabilities and changes in governance could create, disguise or transmit risk.
The aim is to assess where the framework helps explain AI risks and where it needs to be adapted.
History of MIRC
MIRC was developed to explain how financial innovation contributed to the causes and severity of the global financial crisis. It examined lending practices, financial products, policy, risk analysis and globalisation to trace how innovation created, disguised and transmitted risk.
Acadelica aims to extend MIRC to broader risk analysis, including AI safety. This requires assessing how its insights apply beyond finance and accounting for the different ways risks develop in other systems.