“Does Daniel 12:4 describe the increase in knowledge that we see today?”
“But thou, O Daniel, shut up the words, and seal the book, even to the time of the end: many shall run to and fro, and knowledge shall be increased.”
We are living in the time of the mystery (Eph. 3:1-9), not in the time of the fulfillment of prophecy, so nothing in the prophetic book of Daniel describes anything that is going on today.
Since the previous verses say that the saved in Israel will rise from the dead (v. 2) and “they that be wise” shall shine in the kingdom of heaven on earth and “turn many to righteousness” (v. 3), the “knowledge” of verse 4 must refer to knowledge of the Scriptures, the only knowledge that can turn people to righteousness. In that day, “the earth shall be full of the knowledge of the LORD” (Isa. 11:9) since knowledge of Him will be increased.
The subsequent context bears this out as well. When Daniel is told that “the words are closed up and sealed till the time of the end” (v. 9), it is in the end times that “the wise shall understand” (v. 10), and it is then that knowledge of the Scriptures shall be increased, and God’s people will use that knowledge to turn many to righteousness (Dan. 11:33). source