Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of bioactive molecules with antimicrobial and antitumor properties. Its structure supports conjugation in fluorescent dyes and optoelectronic materials due to strong photostability and emission characteristics. Also employed in research for designing novel benzoxazole-based compounds with potential neurological activity. Common in Suzuki and other cross-coupling reactions to build complex aromatic systems for drug discovery.