In this verse, Paul tells us about two kinds of knowledge. One of them is the type of knowledge that God knows us with; the other is how knowledge can be used to destroy each other and fill us with pride. This came up in Paul's letter to the church in Corinth when he addressed the issue of eating food sacrificed to idols. Paul did not address whether it was ok or not, but rather, HOW to handle the authority of being able to eat it. Some in the church had the (correct!) knowledge that food sacrificed to idols was perfectly fine to eat since idols don't hold any power over God, but that same correct knowledge, detached from the love of God, puffed the people up with arrogance.
Let's take a look at 1 Corinthians 1-3 and hear a better way from Paul.
Paul is saying that the kind of knowledge that produces pride and hurts people is not true knowledge at all (he does not yet know as he ought to know). But there is a second type of knowledge he contrasts with the first. Paul's answer to this fake knowledge is love. Knowledge of God used properly turns into love for God, and this is only possible because of how much God intimately knows us. God wants our relationship with Him to be like close friends who share no secrets.
Psalm 25:14 (ESV) “The friendship of the lord is for those who fear him, and he makes known to them his covenant.”
The Hebrew word used for friendship here is "Sod" which speaks of the kind of intimate counsel one close friend gives to another. That's how God knows us. He speaks to us through His Word with intimate, trustworthy advice. So instead of seeking after knowledge to gain an advantage over others, God wants you to seek after Him as you would a friend. When you have a deep friendship with somebody, you remember the things they say, the things they like, what lights them up, and what breaks their heart. That's how He knows you right now, and He wants you to know Him more and to grow closer and more familiar with Him and His Word every day because He doesn't just want to be your savior, father, and helper. He also wants to be your friend.