Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the formation of amide and ester derivatives through acylation reactions. Its reactivity makes it valuable in constructing complex organic molecules, especially in medicinal chemistry for developing bioactive compounds. Commonly employed in the preparation of serotonin receptor modulators and other central nervous system agents. Also utilized in the development of fragrance compounds due to its benzodioxole structure, which can contribute to aromatic stability and scent profile.