This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure, featuring a benzyloxyphenyl group, makes it valuable for developing compounds with potential therapeutic properties, particularly in the areas of anti-inflammatory and cardiovascular drugs. Additionally, it is employed in research settings to study the effects of modified phenyl derivatives on biological systems, aiding in the discovery of new drug candidates. Its role in synthesizing complex molecules underscores its importance in medicinal chemistry and drug development.