Used primarily as an intermediate in organic synthesis, this compound is valuable in the production of various pharmaceuticals, agrochemicals, and specialty chemicals. Its benzyloxy group makes it a useful protecting group for alcohols in multi-step synthetic processes. Additionally, it serves as a building block in the synthesis of complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). Its applications also extend to the creation of fragrances and flavors, where it contributes to the formation of specific aromatic compounds.