Google says:
The web contains an enormous amount of information, and Google has helped to make that information more easily accessible by providing pretty good search facilities. But not everything is written nor is everything well organized to make it easily discoverable. There are millions of people who possess useful knowledge that they would love to share, and there are billions of people who can benefit from it. We believe that many do not share that knowledge today simply because it is not easy enough to do that.
Google Knol is initially being portrayed as a Wikipedia killer and perhaps a threat to Yahoo Answers, but there is a key difference that worth noting. Wikipedia is a community effort. Google Knol will highlight authors. If John Doe is an expert on something he can share that knowledge through Google Knol.
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http://www.e-strategicresearch.com/google_knol.html
http://www.icredits.net/google_knol.html
http://www.techcrunch.com