This chemical is primarily utilized in the synthesis of various pharmaceutical compounds, particularly those targeting central nervous system disorders. Its structure is often incorporated into molecules designed to interact with neurotransmitter systems, making it valuable in the development of potential treatments for conditions like anxiety, depression, and epilepsy. Additionally, it serves as a key intermediate in the production of organic compounds used in research and development, particularly in the field of medicinal chemistry. Its unique 2,3-dihydrobenzo[b][1,4]dioxin ring system contributes to its stability and reactivity, making it a versatile building block in the creation of complex molecules.