What is an Ontology (Database?)?

Question

I was just reading this article and it mentions that some organization had an Ontology as(?) their database(?) layer, and that the decision to do this was bad. Problem is I

Answer 1

I am a total layman, but it appears to me that artificial intelligence research has a 50 year history that goes round in cycles.

1. Extravagant predictions by academics.
2. Generous funding by government.
3. Modest results are produced.
4. Funding is cut savagely.
5. Time passes. The previous cycle is forgotten. Return to step 1.

We've been round the cycle twice. Possibly this time it will be different...?