This lecture introduces the concept of ontology as a knowledge repository with related terms and concepts, emphasizing the importance of agreed-upon meanings. It discusses the evolution, continuous updating, and machine-readability of ontologies, along with under-specified questions and smart ontology design. The lecture also covers query refinement, context-aware ontologies, and a methodology for building ontologies through reuse, adjustment, grasping new concepts, and augmentation. In conclusion, it highlights the significance of ontology in computer science for understanding machines and analyzing human behavior.