The consumption of oil and gas worldwide continues to experience a dramatic increase. However, the era of "easy" resource extraction has already ended, and the production of oil and gas has become a more complex process. Petroleum engineers are searching for the most efficient methods to enhance existing technologies. Nonetheless, the high complexity of such projects results in increased costs and implementation risks. Managed Pressure Drilling (MPD) is an advanced drilling technique that enables precise control of the wellbore pressure profile during drilling operations. The advantages of applying MPD can significantly enhance well control issues and minimize many risks associated with drilling. Real-time downhole data measurements are a crucial component for improving MPD, enabling engineers to monitor wellbore pressure and adjust drilling parameters in real-time. The most promising technology that provides such capabilities today is Wired Drill Pipe (WDP) technology providing power and data supply from surface to downhole, implemented by an Austrian technology company. One of the most demonstrative aspects of the mutual application of MPD and this new downhole power and data transmission technology is the ability to prevent and mitigate kick incidents, which can lead to disastrous consequences such as a blowout without proper management. These two technologies are capable of reducing risks related to kick and blowout events, but the primary research interest is dedicated to examining the extent of their joint effectiveness in comparison with separate applications. To achieve this research objective, the overall advantages of the technologies and their safety barriers against kick incidents are examined in comparison with conventional and alternative practices. For quantitative estimation, the Probabilistic Risk Assessment (PRA) is conducted. The obtained results for collaborative application show that the probability of experiencing kicks and blowouts decreased by 23 and 97 times respectively. The synergetic effect, represented by the estimation of general benefits and quantitative risk assessment performed in this study, demonstrates the essential improvement in the safety and efficiency of the drilling process, justifying additional expenditures associated with the joint MPD and the downhole power and data technology utilization.