This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting the central nervous system. It serves as a key intermediate in the production of antidepressants and anxiolytics, aiding in the modulation of neurotransmitter activity. Additionally, it is employed in research settings for studying receptor interactions and developing novel therapeutic agents. Its methoxy group enhances its stability and reactivity, making it valuable in organic synthesis for creating complex molecules with potential medicinal properties.