Other than being able to play a piece of music the way it is was intended to be played, are there any other advantages to learning how to read and play sheet music?

My daughter is taking piano lessons and I've been following along with her and I've noticed an interesting phenomenon.

As we've been learning how to sight read I've started to be able to guess what note comes next without looking at the music. Not all the time, and I'll admit that it's simple music.

Are there any other things that knowing how to play sheet music can help you with?