This compound is primarily utilized in the field of organic synthesis as a versatile building block for the development of more complex molecules. Its structure makes it particularly valuable in the synthesis of pharmaceutical intermediates, where it can be incorporated into compounds with potential biological activity. Additionally, it serves as a key precursor in the creation of various heterocyclic compounds, which are often explored for their medicinal properties. Researchers also employ it in the study of chemical reactions and mechanisms, aiding in the design of new drugs and materials. Its methoxy group enhances reactivity, making it a useful component in the development of novel chemical entities.