Intellectual capital is your prized real estate

An organisation’s intellectual capital, comprising patents, processes, management skills, technologies and accumulated knowledge of customers, suppliers and business practices, needs to be protected and harnessed to the extent possible. It’s the real genius of an organisation. If mobilised and optimised, it gives a company a competitive edge.

Some companies have gone a step further to create the role of a Chief Learning Officer, whose job is to direct knowledge and information within an organisation. But there is a risk of reducing an organisation’s wealth of “intelligence” to its databases and technological expertise– it’s by far more than that.

With the proliferation of digital tools and platforms, capturing, storing and sharing knowledge in an organisation has become easier. However, with so many options available, it can take time to determine how best to harness technology for knowledge management.

First and foremost, it’s critical to understand that technology is merely a tool. The human component of knowledge management, which consists of processes, policies, and people, cannot be replaced by it. As a result, organisations need to be fully aware of their knowledge management goals and how technology can help them before deploying any technology solutions.

One critical aspect of knowledge management is content creation and curation. Technology can play a big role in this area by providing tools for capturing and organising information. For example, cloud-based document management systems such as Google Drive or Dropbox enable teams to collaborate on documents in real-time, making sharing knowledge across departments and geographies easier.

Another important aspect of knowledge management is communication. Technology can facilitate this by providing internal communication and collaboration platforms like Slack or Microsoft Teams. These platforms allow teams to exchange ideas, share knowledge, and work together in a centralised and accessible space.

Machine learning

Using artificial intelligence and machine learning as knowledge management technologies is also advantageous. With the use of these technologies, information may be automatically identified, classified, and tagged, making it simpler to locate and rapidly access pertinent data. For instance, chatbots can assist staff members in finding knowledge on topics, and AI-driven algorithms can analyse data to detect trends and insights.

But it’s important to keep in mind that technology can sometimes lead to information overload, making it harder to manage knowledge effectively. Hence, policies and procedures for information organisation and filtering must be established by organisations. Also, they must spend money on educating staff members to use digital tools safely, effectively and efficiently.

As with real estate, the value of knowledge increases when it is organised, accessible and easily shared. Organisations can efficiently gather, store and share information thanks to the capabilities that technology offers for successful knowledge management.

Your business may use the information to inform choices, spur innovation and maintain an advantage over the competition with the proper technological solutions.

Mr Wambugu is a Certified Cloud and Cyber Security Consultant. Email: [email protected] Twitter: @Samwambugu2