1. A smart knowledge discovery and augmentation system, comprising: an electronic device having a display screen operable to display a portion of a reference document using a first display layer and augmented content using a second display layer, the electronic device operable (i) to allow user interaction with the portion of the reference document for selection of a reference topic to be augmented, and (ii) to communicate with a remote server, wherein the reference document includes digital data information stored locally on the electronic device or via the remote server; and a ranking engine configured to prune out a portion of a set of features extracted from the reference document, wherein the augmented content is generated using a set of discovery patterns and a causality graph, wherein the set of discovery patterns is dynamically generated based on context aware competency questions relevant to content of the reference document, and wherein the causality graph is generated using (i) a set of prior topics that are relevant to content of the reference document, (ii) the reference topic to be augmented, (iii) a set of at least two causal relationships, (iv) a set of actors relevant to the set of at least two causal relationships, (v) a set of topics and a set of categories associated with the set of topics, and (vi) the set of discovery patterns.