This chemical is primarily used in the synthesis of various organic compounds, particularly in pharmaceutical research and development. It serves as an intermediate in the production of active pharmaceutical ingredients (APIs), where its structure is utilized to introduce specific functional groups into more complex molecules. Additionally, it finds application in the preparation of specialty chemicals used in agrochemicals, where it contributes to the development of herbicides, fungicides, and insecticides. Its benzyloxy group makes it a valuable building block in organic synthesis, enabling the creation of compounds with tailored properties for industrial and research purposes.