This chemical is primarily utilized in organic synthesis, particularly in the development of complex molecules. It serves as a key intermediate in the production of pharmaceuticals, where it aids in the construction of active pharmaceutical ingredients (APIs). Its structure, featuring both a carbamate and a hydroxyethyl group, makes it valuable for modifying drug molecules to enhance their efficacy or stability. Additionally, it is employed in research settings for studying reaction mechanisms and developing novel synthetic pathways. Its methoxy group also contributes to its role in creating compounds with specific biological activities, such as antioxidants or enzyme inhibitors.