Primarily utilized in the field of organic synthesis, this compound serves as a key intermediate in the production of various alkaloids and pharmaceutical agents. Its structural framework is particularly valuable in constructing complex molecules due to the presence of reactive chloro and methoxy groups. These functional groups allow for further chemical modifications, making it a versatile building block in medicinal chemistry. Additionally, it is employed in the development of potential therapeutic compounds targeting neurological disorders, as its core structure is often found in molecules with bioactivity. Researchers also explore its use in designing inhibitors for specific enzymes, contributing to drug discovery efforts.