Models and Tools of Knowledge Acquisition

Abstract

The growth of communication channels, personal computers and the internet has radically altered the importance and use of knowledge within an economy, leading to the emergence of a knowledge economy. Digital technologies have transformed the way firms acquire and process external knowledge for effective strategy-making. In a knowledge/digital economy, firms use novel techniques such as Competitive Intelligence (CI) as well as emerging technologies such as Application Programming Interfaces (APIs) and Artificial Intelligence (AI) for knowledge acquisition. In this paper we discuss how CI, AI, and API enhance the effectiveness of the knowledge acquisition process by firms. Overall, the tools, models, and emerging technologies used in knowledge acquisition and knowledge management lead to cost savings at various levels, greater convenience for users, and more effective acquisition and use of knowledge by firms.