Ontology is a branch of philosophy dealing with the study of being and existence. However, in a practical business setting, ontology refers to the architecture that binds different sources of information and involves interconnecting data from multiple domains by tagging and categorising. It could be looked at as a means of resolving organisational differences between databases to enhance integration.
In AI, ontology refers to a shared vocabulary for researchers. It includes machine-interpretable definitions of basic concepts and the relationships between them. Ontology-based AI allows the system to use contents and the relationships between them to make inferences that emulate human behaviour. It can produce targeted results and does not require training sets to become functional.
Ontology facilitates sharing a common understanding of information structure among software agents, reusing domain knowledge, analysing domain knowledge, and separating domain knowledge from operational knowledge………………..