Ability of something or someone to quickly and easily adapt to different functions. Versatility, therefore, is a highly valued feature. The term versatility can have two meanings (one positive and one negative) depending on the context.
In a positive sense, versatility implies plurality of interests, initiative, curiosity, vitalism, in short, and is understood as a valuable characteristic.
In the negative sense, versatility is considered an ambivalent and impractical attitude, typical of amateurs or fickle people. There are even sayings about it: apprentice of everything, owner of nothing. There is a derogatory sense of variety.
Both interpretations can be valid, depending on the reasons that are argued. An example can serve to clarify the discussion. A doctor likes medicine in general, interesting all branches equally. This attitude is positive insofar as all knowledge is useful and, at the same time, it is negative insofar as it is almost impossible to specialize in a branch of medicine if the interest is for everyone.
A versatile person can respond to different challenges and adapt to all kinds of contexts. For this reason, versatility is a value that employers often take into account when hiring someone.
Something similar happens in professional sports. Teams generally have players who specialize in some task or occupy only one position on the field of play, but in each squad (also called a roster) there are several versatile athletes. On a soccer team, a player who can perform in three or four positions is very useful as this results in the ability to replace different pairs.