Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and bioactive molecules. Its structure is particularly valuable in the development of drugs targeting the central nervous system, such as anxiolytics and antidepressants. Additionally, it is employed in the creation of agrochemicals, including herbicides and insecticides, due to its ability to act as a building block for complex chemical structures. In research, it is utilized to study chemical reactions involving the benzodioxane ring system, which is of interest in medicinal chemistry for its potential therapeutic applications.