It is argued that the site is a useful research tool and such assessment will allow students to develop their ability to think critically, along with their research and writing skills.
The site has been a source of much debate amongst academics, with the main issue centring around the fact that it is not peer-reviewed. One US university has already banned its students from using it. Further controversy surrounded the site earlier this week when it emerged that one of its contributors faked his academic credentials.
Despite these concerns, the University of East Anglia is adamant that Wikipedia has become an excellent source for research and information and feel they are able to utilise it to help students develop their skills.
I'll be doing a seminar on wikis later in the semester so I'll be keeping an eye on the debate.