Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and fine chemicals. Its epoxide ring is highly reactive, allowing for ring-opening reactions with nucleophiles such as amines or alcohols, which makes it valuable for constructing complex molecules. It is particularly useful in synthesizing derivatives with biological activity, including potential drug candidates targeting central nervous system disorders. Additionally, it can function as a building block in the development of agrochemicals and specialty polymers due to its ability to introduce methoxybenzyl moieties into larger structures.