This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure, featuring a methoxybenzyl group, makes it particularly useful in the development of drugs that target the central nervous system, such as antidepressants and anxiolytics. Additionally, it is employed in the synthesis of agrochemicals, where it contributes to the creation of pesticides and herbicides with enhanced efficacy. The compound's unique properties also make it valuable in research settings, where it is used to study receptor interactions and develop new therapeutic agents.