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The first wave was the Agricultural Age with wealth defined as ownership of land. In the second wave, the Industrial Age, wealth was based on ownership of Capital, i.e. factories. In the Knowledge Age, wealth is based upon the ownership of knowledge and the ability to use that knowledge to create or improve goods and services.
He describes knowledge-based opportunities as distinct from (classical) resource-based opportunities; unfortunately, there is no clear definition of a knowledge-based opportunity which makes it difficult to demarcate, as all opportunities except for purely spontaneous action or intuition-based opportunities are somehow knowledge based.
A knowledge-based system (KBS) is a computer program that reasons and uses a knowledge base to solve complex problems. Knowledge-based systems were the focus of early artificial intelligence researchers in the 1980s. The term can refer to a broad range of systems.
Knowledge-intensive services can be described as activities that are based on knowledge and know-how resources and are service oriented. This is a more descriptive concept than a specific industry: the information creates value for different stakeholders.
The quaternary sector of the economy is based upon the economic activity that is associated with either the intellectual or knowledge-based economy. [1] This consists of information technology; media; research and development; information-based services such as information-generation and information-sharing; and knowledge-based services such as consultation, entertainment, broadcasting, mass ...
Knowledge industries are those industries which are based on their intensive use of technology and/or human capital. [1] While most industries are dependent in some way on knowledge as inputs, knowledge industries are particularly dependent on knowledge and technology to generate revenue.
A knowledge economy features a highly skilled workforce within the microeconomic and macroeconomic environment; institutions and industries create jobs that demand specialized skills to meet the needs of the global market. [3] Knowledge is viewed as an additional input to labour, and capital. [4]
These issues led to the second approach to knowledge engineering: the development of custom methodologies specifically designed to build expert systems. [1] One of the first and most popular of such methodologies custom designed for expert systems was the Knowledge Acquisition and Documentation Structuring (KADS) methodology developed in Europe.