The Gene Ontology (GO) provides a controlled vocabulary for describing gene and gene product attributes across species. It consists of three ontologies covering biological processes, molecular functions, and cellular components. GO terms are organized into a directed acyclic graph structure and can have relationships like "is_a" and "part_of". Genes are annotated with GO terms to capture functional information, which is shared across species to facilitate research. While useful, the GO has some limitations like unclear reasoning principles and lack of validation procedures.