Mix avocado, mayo, lime juice, pepper, paprika, onion powder and garlic powder in food processor until smooth and creamy
Add cheese, artichokes, green olives and water chestnuts and pulse a few times until well incorporated and the "add-ons" have gotten down to an acceptable scoopable size.
Transfer to a mixing bowl and delicately fold in the basil and crispy bacon.
The avocado will tend to turn brown, so this is better served immediately. However, the color doesn't affect the taste, so it can be kept in the refrigerator for a few days. Just make sure you restrict contact with air as much as possible.