This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure, featuring a methoxy group and an amine functional group, makes it valuable for the development of drugs targeting the central nervous system, particularly in the synthesis of compounds with potential antidepressant or anxiolytic properties. Additionally, it is employed in the preparation of chiral catalysts and ligands, which are essential in asymmetric synthesis to produce enantiomerically pure substances. Its stability and reactivity also make it a useful building block in the creation of complex molecules for medicinal chemistry research.