Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block in the development of complex molecules due to the presence of both phenolic and ether functional groups, which allow for selective reactions. Commonly employed in the synthesis of bioactive compounds, including antioxidants and enzyme inhibitors. Also utilized in the creation of specialty polymers and ligands for catalysis. Its benzyl-protected phenol group enables controlled deprotection in multi-step synthetic routes, making it valuable in medicinal chemistry research.