Knowledge representation is a field of artificial intelligence that represents information about the world in a way that a computer system can understand to perform complex tasks. It simplifies complex systems through modeling human psychology and problem-solving. Examples of knowledge representation include semantic nets, frames, rules, and ontologies. Knowledge representation allows for automated reasoning about represented knowledge and asserting new knowledge. While first-order logic provides powerful and compact representation, it lacks ease of use and practical implementation for real-world problems. Effective knowledge representation requires balancing expressive power with practical considerations like execution efficiency.