Hypernymy is a linguistic relationship where one word, known as a hypernym, encompasses a broader category that includes more specific words, called hyponyms. For example, the word animal is a hypernym for dog, cat, and elephant, as these are all specific types of animals. This relationship helps in organizing vocabulary and understanding how words relate to each other. Hypernyms can be useful in various fields, such as taxonomy in biology, where broader categories are used to classify living organisms, or in natural language processing, where understanding word relationships enhances machine comprehension.