Gil Fronsdal gives a brief introduction to the role of wisdom as one of the five faculties suggested by the Buddha for the practice of meditation. As Gil explains, the faculties are helpful in developing any skill in life, including the practice of meditation. Wisdom provides us with the ability to know what is helpful and what isn’t, and to encourage the helpful while letting go of the unhelpful. You can find his introduction here: The Five Faculties
Sarah Doering provides more detail on the role of wisdom as one of the spiritual faculties. This includes information on what constitutes wisdom and it’s relation to the other faculties. At the end, she suggests that the development of wisdom leads directly to the growth of love and compassion. You can find her article here: The Five Spiritual Powers