Used as an intermediate and protecting group in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. The benzyloxy moiety protects the phenolic hydroxyl group, allowing selective functionalization on the aromatic ring while the benzyl group can be easily removed under reductive conditions. This makes it valuable in the development of complex molecules. Commonly employed in the synthesis of benzoxazole derivatives and other heterocyclic compounds with biological activity. Also utilized in research settings for the construction of more elaborate aromatic systems through cross-coupling and electrophilic substitution reactions.