Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of certain antiviral and anticancer agents. It serves as a building block in organic synthesis due to the presence of both amino and hydroxyl functional groups, which allow for multiple modification pathways. Commonly employed in the development of heterocyclic compounds, especially fused ring systems like benzoxazoles and benzimidazoles, which are prevalent in bioactive molecules. Also utilized in the preparation of dyes and functional materials where nitrile and phenolic groups contribute to chromophoric properties. Its reactivity makes it suitable for use in cross-coupling reactions and nucleophilic substitutions in fine chemical manufacturing.