[en] The aim of this paper is to summarize some recently obtained relations between the Ablowitz-Ladik hierarchy (ALH) and other integrable equations. It has been shown that solutions of finite subsystems of the ALH can be used to derive a wide range of solutions for, e.g., the 2D Toda lattice, nonlinear Schroedinger, Davey-Stewartson, Kadomtsev-Petviashvili (DP) and some other equations. Similar approach has been used to construct new integrable models: O(3,1) and multi field sigma models. Such 'universality' of the ALH becomes more transparent in the framework of the Hirota's bilinear method. The ALH, which is usually considered as an infinite set of differential-difference equations, has been presented as a finite system of functional-difference equations, which can be viewed as a generalization of the famous bilinear identities for the KP tau-functions. (author)