Information retrieval and the perpetual innovation economy

The main objective of this article is to show the increasing relevance of the knowledge production capability of information storage and retrieval systems in the context of ‘perpetual innovation’, otherwise known as the ‘information’ economy. The knowledge production potential of information retrieval systems is only barely recognised in the information science community. Traditionally, information professionals and retrieval systems devised by them are conceived merely as guardians and facilitators of knowledge. This prevents information professionals playing a key role in an innovation based economy. In a perpetual innovation economy, information/knowledge embedded in commodities becomes the main source of profit. However, the peculiar character of information/knowledge means that privately owned knowledge tends to flow back into the public domain. This peculiarity necessitates continuous production of new knowledge applied to products and production techniques. Creative acts are not individualistic but collective/collaborative processes. Emerging collaborative systems on computer networks, such as the Internet, make it possible to devise work environments that are conducive to the development and cultivation of collective practices. Informational retrieval systems designers and practitioners may find it useful to study such systems to develop retrieval mechanisms that enhance creativity and facilitate knowledge production as well as knowledge transfer. It is hoped that by putting information retrieval in the context of the perpetual innovation economy, the knowledge production potential of information retrieval systems becomes more widely acknowledged and accepted among information practitioners.