This compound is primarily utilized in the synthesis of fragrances and flavoring agents due to its aromatic properties. It serves as an intermediate in the production of various organic compounds, including pharmaceuticals and agrochemicals. Its structure allows it to be a key building block in the development of complex molecules, particularly those requiring methoxy and hydroxyl functional groups. Additionally, it finds application in research and development for studying chemical reactions and mechanisms involving benzyl alcohol derivatives. Its role in creating specialty chemicals makes it valuable in industries focused on fine chemicals and material science.