The potential of large language models (LLM) has captured the imagination of the public and researchers alike. In contrast to previous generations of machine learning models, LLMs are general-purpose tools, which can communicate with humans. In particular, they are able to define terms and answer factual questions based on some internally represented knowledge. Thus, LLMs support functionalities that are closely related to ontologies. In this perspective article, I will discuss the consequences of the advent of LLMs for the field of applied ontology.