Saraswati represents wisdom, or the knowledge of knowing the truth of names and forms as they are.
Worldly knowledge about this and that doesn’t guarantee us peace and compassion, or be free from ignorance and suffering.
Wisdom, or knowing the truth of things as they are, will allow us to be peaceful and compassionate, be free from ignorance and suffering.
It doesn’t mean that worldly knowledge is useless or meaningless. Knowledge is just what it is. It is neither good nor bad. When we use it wisely, the knowledge can be used to benefit all and everyone, to have a better quality of life, to improve personally and globally. When we use it under the influence of ignorance and egoism, the same knowledge might be used to generate harmful effects, disharmony or unhappiness in oneself and others.
Wisdom is not about knowing everything, but knowing the truth of things as they are.
Peace and compassion is undetermined by any qualities of names and forms, including all the worldly knowledge about everything that we can know about this world.
Beyond all the qualities of names and forms, one rests in its own nature of unconditional love and peace.