This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex compounds. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that require specific aromatic and methoxy functional groups. Additionally, it finds application in the research and development of new chemical entities, where its structure serves as a building block for creating molecules with potential biological activity. Its benzyloxy and methoxy groups make it a valuable precursor in the preparation of compounds used in medicinal chemistry and drug discovery.