Used primarily as a key intermediate in the synthesis of pharmaceuticals and psychoactive substances, particularly in the production of certain substituted amphetamines and related compounds. Its structure serves as a building block for creating more complex molecules with biological activity. Due to the presence of methoxy groups and a reactive ketone functionality, it is valuable in organic synthesis for ring transformations and functional group manipulations. It also finds use in research settings for the development of novel organic compounds and in the study of reaction mechanisms involving indanone derivatives.