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A product owner is a defined role in Scrum methodology that is centered on delivering the maximum value possible to the user within a digital product. They liaise and act as a bridge between stakeholders and the different executing teams so everyone understands the goals of the product and the importance of said goals.
The product owner provides clarity to the team about the next features and updates to be built by mapping out the priorities and by maintaining a clear and organized product backlog with fully defined user stories. Ultimately they define the product goals to achieve business objectives set out by the product manager and management team.
A product owner who manages their responsibilities well will often grow into a product manager position.