Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of bioactive molecules and fragrances. Its aldehyde and ether functional groups allow for diverse chemical transformations, making it valuable in constructing complex organic structures. Commonly employed in the preparation of substituted benzofurans and other heterocyclic compounds with potential therapeutic activity. Also utilized in fragrance chemistry due to its aromatic character and ability to undergo condensation reactions to form odor-active molecules.