The abducent nerve, also known as cranial nerve VI, is responsible for the function of the lateral rectus muscle of the eye. This muscle is responsible for the abduction of the eye, which means it moves the eye laterally away from the midline. The abducent nerve innervates the lateral rectus muscle, allowing it to contract and move the eye outward. This nerve plays a crucial role in maintaining proper eye alignment and coordination, allowing for binocular vision and the ability to focus on objects in different directions.