This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex compounds. It serves as a building block in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target specific biological pathways. Additionally, it is employed in research settings for the preparation of derivatives that may exhibit potential therapeutic properties, such as anti-inflammatory or antimicrobial activities. Its benzyloxy and methyl groups make it a versatile reagent for modifying molecular structures in drug discovery and material science applications.