“Knowledge in the Age of Artificial Intelligence”

Today is a knowledge economy, making knowledge one of the modern company’s most important assets. It’s estimated that poor knowledge-sharing practices cost Fortune 500 companies $31.5 billion annually. 74 percent of organizations estimate that effective knowledge management disciplines increase company productivity by 10-40 percent. Given the importance of knowledge to efficiency and productivity, it’s critical that organizations manage their knowledge effectively. Knowledge is one of an organization’s most important assets. It is important to form a strategy for not only how the company will generate, use, share and resuse knowledge, but also how to encourage employees to do the same. To be successful, you should have a goal to create a company culture that prioritizes knowledge sharing. And it doesn’t hurt to have a really easy-to-use knowledge management system that fits into employees existing workflows.

Knowledge management is any system that helps people in an organization share, access, and update business knowledge and information. The concept of knowledge management (KM) is “creating value from an organizations tangible and intangible assets”. The process of knowledge transformation enhances innovation. Today, the application and facilitation of Decision Support System (DSS) such as technological infrastructure in processing power or global connectivity and Artificial Intelligence (AI) become success drivers.

Artificial Intelligence implementation into knowledge management systems is still at nascent stage. Artificial intelligence is already able to address common problems of the domain, as it seems to be more present and accepted by chief knowledge officers and organizations at large. Knowledge management takes advantage of AI tools used to capture, filter, represent or apply knowledge. AI tools provide applications for the selection, parsing, analysis and classification of text, automated reasoning and visualizations to facilitate decision-making. Artificial Intelligence can be used as an enabler of knowledge management tools, which enhance collection, storing, and sharing of knowledge rather than information. Additionally, the capabilities of intelligent agents used in AI make them “proxies for knowledge workers”.

With this Background CII is conducting Global Knowledge Summit 2020 with the theme “Knowledge in the Age of Artificial Intelligence”. The sessions as part of the summit will include Evolution of Knowledge, Gamification of Knowledge Management and Storytelling. The summit for the first time will have India as the venue for the Global MIKE Awards. The CII – MIKE winners will present case studies and we will have a panel discussion with the Global participants. Masterclasses on Knowledge Management and AI are also planned.