This compound is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its versatile functional groups. It serves as a key intermediate in the production of herbicides, particularly those targeting broadleaf weeds in crops. Additionally, it is employed in the development of bioactive molecules, including potential drugs for treating central nervous system disorders. Its chloro and methoxy groups make it a valuable building block in organic synthesis, enabling the creation of complex chemical structures with specific biological activities.