Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of analgesic and anti-inflammatory agents. It serves as a building block in organic reactions where both the amino and hydroxyl functional groups can be selectively modified. Commonly employed in the development of heterocyclic compounds, including benzoxazoles and other nitrogen-containing rings with biological activity. Also utilized in research settings for the preparation of dyes and fluorescent probes due to its reactive sites and aromatic structure.