Benzo[d]oxazol-5-ol is primarily utilized in the field of organic synthesis as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of compounds with potential biological activity, such as antimicrobial and antifungal agents. Additionally, it serves as a building block in the synthesis of fluorescent dyes and optical brighteners, which are used in industries like textiles and paper manufacturing. The compound's unique properties also make it suitable for research in material science, particularly in the development of advanced polymers and coatings.