Used primarily as a key intermediate in the synthesis of pharmaceuticals, especially in the development of bioactive molecules and drug candidates. Its structure is valuable in medicinal chemistry for constructing heterocyclic compounds with potential antipsychotic, antimicrobial, or anti-inflammatory activity. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to introduce the benzoisoxazole scaffold into larger molecular frameworks. Also utilized in the preparation of fluorescent probes and agrochemicals due to its stability and reactivity profile.