Used as an intermediate in organic synthesis, particularly in the development of pharmaceutical compounds. It plays a role in the preparation of substituted anilides and benzyl-protected phenolic derivatives, which are common scaffolds in drug design. Its chloroacetamide group allows for further alkylation or nucleophilic substitution reactions, making it valuable in building complex molecules for medicinal chemistry research. Commonly employed in the synthesis of kinase inhibitors and anti-inflammatory agents. Also utilized in the preparation of labeled compounds for biochemical assays due to its reactivity and stability under various reaction conditions.