This compound is primarily utilized in the field of organic synthesis, where it serves as an intermediate in the production of more complex molecules. Its structure, featuring a benzyloxy group and a ketone functionality, makes it a valuable building block in the synthesis of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. Additionally, it can be employed in the creation of specialty chemicals used in materials science, such as polymers or coatings, where its specific chemical properties contribute to desired characteristics like stability or reactivity. Researchers also explore its use in the development of agrochemicals, where it may act as a precursor in the synthesis of active ingredients for crop protection products.