The Medrash explains this pasuk as a blessing for Hashem to grant us the intelligence to favor and uplift each other. The Chasam Sofer (Toras Moshe) writes that some people seem to have all they need and to not lack anything. Therefore, no one feels any compassion for him and no one sees any reason to help him. They may be unaware that he is suffering in some unknown way. If they would know the extent of his suffering, they would feel bad for him and they would help him.
An example of this is the story of Mar Ukva (Kesuvos 67B), who would send 400 coins to a certain man every erev Yom Kippur. He was once informed that the man bathes in oil every day, which was a sign that he was actually wealthy. Mar Ukva said that he only does so because he is finicky and now that he knows how finicky he is, he will send him 800 coins.
Thus, the blessing is that Hashem should give us the wisdom to understand what each Yid needs and how to help him.
