That's kinda what an FMEA does for HW, and what Barr investigated for SW. Not sure how you'd convert his findings to a definite probability, but I wouldn't want that SW in a word processor, let alone a car!
What are the engineering and design challenges in creating successful IoT devices? These devices are usually small, resource-constrained electronics designed to sense, collect, send, and/or interpret data. Some of the devices need to be smart enough to act upon data in real time, 24/7. Specifically the guests will discuss sensors, security, and lessons from IoT deployments.