Combat Wisdom
Combat Wisdom is not yet fully implemented.
You can currently earn combat wisdom points but not spend them. To check your combat wisdom points open your persona menu and go to the "Currencies" page.
Combat Wisdom is not related to Notoriety.
The developers have posted several times about the combat wisdom mechanics during the development of Project Gorgon.
Below is the description from the March 8th, 2016 combat wisdom announcement.
Game updates/2016-03-08#Combat Wisdom
Combat Wisdom is a new kind of "spendable XP". It's primarily earned by grouping, although you can earn small amounts of it by soloing as well. Boss monsters give a few points of Combat Wisdom the first time you kill them in any 3-hour period. Elite monsters also have a chance to give a point of Combat Wisdom (the higher level, the better the chance). Certain soloable named monsters also give small amounts of Combat Wisdom, but not more than once per 24 hours.
You can earn Combat Wisdom now, but you can't spend it yet -- that part's been delayed until a future update. But I figured there's no harm in letting you start collecting it now!
Combat Wisdom will eventually be used for specialized ability tiers. For instance, for 600 Combat Wisdom you might be able to unlock Master Barrage 1, which is a version of Barrage that's about 10% better than the regular Barrage 5. And then later you could buy the upgrade, Master Barrage 2, which is better than Barrage 6, etc. This is a slow-powering system that isn't going to make your character dramatically better. One goal is to let you further specialize your character: while you might invest in Master Riposte ability ranks, another swordsman might invest in Master Hacking Blade, and at high level you'll each have slightly different combat styles and gear setups.
(By the way, if you've ever wondered why so much gear has percentage boosts like "deals +X% damage" instead of just giving a flat number, this is one of the reasons why! Even though the specialized versions of these abilities are only modestly better than the usual versions, that difference can be multiplied with the right gear.)
But as I mentioned, there's not yet any way to spend these points. I'm still experimenting with the best way to handle that part. So stay tuned!