Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of active pharmaceutical ingredients (APIs) requiring chiral alcohols. Its aromatic ether structure makes it suitable for use in fragrance components, contributing to floral and sweet notes in perfumery. Also employed in the preparation of liquid crystal materials and organic semiconductors due to its stable aromatic backbone and solubility properties. Commonly utilized in asymmetric synthesis as a building block for more complex molecules in research and development settings.