This compound is commonly utilized in the synthesis of various pharmaceutical agents, particularly those targeting the central nervous system. Its structure makes it a valuable intermediate in the development of psychoactive drugs, including antidepressants and anxiolytics. Additionally, it is employed in organic chemistry research as a building block for more complex molecules, aiding in the study of receptor interactions and drug design. Its methoxy groups enhance its reactivity and binding affinity, making it a useful component in medicinal chemistry.