This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceuticals. Its structure is particularly valuable for developing compounds that target neurological disorders, such as anxiety and depression, due to its ability to interact with specific receptors in the brain. Additionally, it serves as a building block in the creation of molecules with potential antipsychotic and sedative properties. Researchers also explore its use in designing drugs that modulate serotonin and dopamine pathways, making it a versatile component in the development of central nervous system therapeutics. Its methoxy group enhances its reactivity and selectivity, enabling precise modifications for tailored drug design.