This compound is primarily utilized in organic synthesis as a versatile intermediate for the construction of more complex chemical structures. It is particularly valuable in the pharmaceutical industry, where it serves as a building block for the development of various biologically active molecules, including potential drugs targeting neurological and oncological conditions. Additionally, its reactive chloromethyl group allows for further functionalization, making it useful in the creation of ligands for catalysis and in materials science for designing advanced polymers or coatings. Its application is often focused on research and development processes aimed at discovering new therapeutic agents or functional materials.