This is the 948th most frequent Icelandic word.
vitum
"Vitum" means "we know" in English.
Here, 'vitum' is the first person plural conjugation of the verb 'vita', meaning 'to know', denoting knowledge of a fact or information.
Við vitum svarið.
We know the answer.
In this sentence, 'vitum' illustrates the conjugation reflecting the group’s awareness or understanding about an event or situation.
Þeir vitum hvað er í gangi.
They know what is going on.
'Vitum' is being used here in a subjunctive form to express an idea or a hypothetical condition, rather than a concrete fact.