This compound is primarily utilized in the synthesis of organic molecules, particularly in the pharmaceutical and agrochemical industries. It serves as a key intermediate in the production of various bioactive compounds, including drugs and pesticides. Its structure, featuring hydroxyl and methoxy groups, makes it suitable for further chemical modifications, enabling the creation of complex molecules with specific biological activities. Additionally, it is employed in research and development for studying chemical reactions and mechanisms due to its reactive functional groups. Its applications also extend to the field of material science, where it can be used in the development of advanced materials with tailored properties.