Is ontology part of AI?

Could you elaborate on whether ontology plays a role within the realm of Artificial Intelligence? Is it a fundamental component that drives the development of AI systems, or is it a separate field that merely intersects with AI at certain points? Understanding the relationship between ontology and AI is crucial in grasping the conceptual foundations of both disciplines. Clarifying this connection could provide valuable insights into how AI systems represent and reason about the world, and how ontology might contribute to enhancing the capabilities of these systems.