Considering the fact that every internet user uses IM’s and does communicate a lot of useful details on it, in addition to have very intimate private discussions with close ones. But the final consequence of the chat generally stays in our head for a short while, and there is no specific record of the chat one had. Although MSN and other chat messengers do give you an option for storing the chat that you just had, but would not be good to have a way to link the chat to a repository before or after the chat, so that the contents you want can be stored for long term memory. These contents once stored can then be managed used web 2.0 technologies of tagging them then providing efficient searches of contents.
This can specially be of great use for IT professionals providing support using messenger clients. Which can help to generate help manuals and references.
I havent come across such an application that manages casual chat to such an extent but if there is one out there , it would be of great use, so please post a comment to this blog if you have got views about this, or know of an application that does that.