Knowledge tracing models have enabled a range of intelligent tutoring systems to provide feedback to students. However, existing methods for knowledge tracing in learning sciences are predominantly reliant on statistical data and instructor-defined knowledge components, making it challenging to integrate AI-generated educational content with traditional established methods. We propose a method for automatically extracting knowledge components from educational content using instruction-tuned large multimodal models. We validate this approach by comprehensively evaluating it against knowledge tracing benchmarks in five domains. Our results indicate that the automatically extracted knowledge components can effectively replace human-tagged labels, offering a promising direction for enhancing intelligent tutoring systems in limited-data scenarios, achieving more explainable assessments in educational settings, and laying the groundwork for automated assessment. [For the complete proceedings, see ED675583.]