Taxonomies vs. Ontologies

Ontological metadata, being machine- as well as human-, readable, can drive processes, reduce data redundancy, and can be used to surface new information through inferencing and rich querying/updates. Ontologies will enrich taxonomies and make them more useful to the organization overall.

https://www.forbes.com/sites/cognitiveworld/2019/03/24/taxonomies-vs-ontologies/